Thursday October 29, 07:42 AM
CHINA'S CIC TO INVEST $700 MLN INTO HOPU-BACKED MINING COMPANY-SOURCE
HONG KONG, Oct 29 (Reuters) - China Investment Corp plans to invest $700 million in Iron Mining International Ltd, a company backed by Chinese private equity firm Hopu, a source familiar with the matter said on Thursday.
Iron Mining International, partly owned by private equity firm Hopu and Singapore's state investor Temasek, is planning to list shares in Hong Kong late this year or early next year hoping to raise up to $1 billion.
Iron Mining was previously known as Lung Ming Investment Holdings Ltd.
The Wall Street Journal previously reported the CIC (CC.NX - news) -Iron Mining agreement.
(Reporting by Michael Flaherty and Farah Master; Editing by Lincoln Feast)
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