UPDATE 1-Origo in $30 mln placing to fund China clean-tech

UPDATE 1-Origo in $30 mln placing to fund China clean-tech

China-focused investment company Origo Partners (OPP.L) is raising up to $30 million in a placing to enable it to take advantage of deal opportunities in China’s clean-tech and agriculture sectors.

Origo said on Friday it would issue new ordinary shares at an indicative price of 25 pence per share, a 7.4 percent discount to the stock’s closing price of 27 pence on Thursday.

Origo said the proceeds of the placing would be combined with existing cash to invest a total of $50 million in China including $10 million into a new yuan-denominated private equity fund and $20 million into Mongolian mineral resources.

The remaining $20 million will be directed into the clean-tech and agriculture sectors, said Origo, which has a market capitalisation of 59.4 million pounds ($86.52 million).
(Reporting by Sarah Young; Editing by Matt Scuffham)
($1=.6865 Pound)