ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconIcon FacebookIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerIcon Opinion QuotePositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Articles

China First Capital, Singapore-Listed MindChamps To Set Up Fund, Raise $200 Mln

By Carrie Chen
Nikkei Markets
HONG KONG (Feb 21) -- Hong Kong-listed China First Capital Group said it entered a joint venture agreement with Singapore-listed MindChamps PreSchool, establishing a fund that will raise $200 million initially to set up and acquire preschools in China.

CFCG and MindChamps will each own a 50% stake in a company that will manage the fund, named China Preschool Fund, as its general partner. The targeted sum will be raised from the sale of limited partnership interests, the company said in a statement to Hong Kong stock exchange on Tuesday. The preschools will be operated under the "MindChamps" brand.

CFCG and MindChamps will also establish a new company to be MindChamps' master franchisee in China. CFCG will own 51% of that company, and MindChamps the remainder. MindChamps will receive licence fees from the company and royalties from the preschools.

A unit of CFCG currently owns a 4.99% interest in MindChamps.
- By Carrie Chen; hkeditorial@nikkeinewsrise.com; +852 39605150
- Edited By V.Phani Kumar
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

Get unlimited access
NAR site on phone, device, tablet

{{sentenceStarter}} {{numberReadArticles}} free article{{numberReadArticles-plural}} this month

Stay ahead with our exclusives on Asia; the most dynamic market in the world.

Benefit from in-depth journalism from trusted experts within Asia itself.

Try 3 months for $9

Offer ends September 30th

Your trial period has expired

You need a subscription to...

See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

See all offers
NAR on print phone, device, and tablet media