Rothschild takes 5-% stake in China CYTS Tours Holding
02 Sep 2011
The asset management arm of Edmond De Rothschild Group, owned by the Rothschild family, acquired over 5 per cent of China CYTS Tours Holding Co Ltd and is planning to increase its stake over the next 12 months.
The 5-per cent stake in China CYTS Tours Holding is valued at about $54 million.
Edmond De Rothschild Asset Management Hong Kong Ltd owns 21 million shares or 5.06 percent of CYTS Tours, it said in a statement to the Shanghai Stock Exchange.
Since February, Rothschild had been gradually buying CYTS Tours' shares, while it had also bought about 5 per cent of Liuzhou Chemical Industry Co Ltd shares.
Rothschild owns more than 5 per cent in Hong Kong-listed China Tycoon Beverage Holdings Ltd, CNNC International Ltd, NetDragon Websoft Inc and Tianjin Capital Environmental Protection Group Co Ltd.
The Chinese regulations require a company or investor to fully disclose holdings in a firm upon acquiring more than 5 percent. Foreign investors were investing in China's capital markets under the Qualified Foreign Institutional Investor (QFII) policy.
