18 Mar 2010 07:00
18 March 2010
Origo Partners open new office in Ulan Bator, Mongolia.
Origo Partners PLC ("Origo" or "the Company") are pleased to announce the opening of a new office in the Mongolian capital, Ulan Bator, and the creation of a new subsidiary, Origo Altai Partners Limited ("Origo Altai Partners").
Mongolia is a country of significant mineral wealth with resources encompassing gold, iron ore, molybdenum, uranium, oil, copper and coal and exploration licenses covering 1/3 of the country's approximately 1,564,116 km2 land area. Mongolia's proximity to key markets in Northern China enables the supply of commodities at a comparatively low cost and this competitive advantage will be underpinned by the ongoing development of rail infrastructure in China and anticipated rail approvals and construction in Mongolia. As development accelerates, Origo expects new investment opportunities to open up in sectors such as infrastructure and mining service equipment. Following Origo's recent investment in Gobi Coal & Energy Limited, the Company expects to be in a position to quickly identify further investment opportunities in Mongolia.
By opening an office in Ulan Bator, Origo will also be able to extend its business model of providing corporate finance and advisory services to local investee and non-investee companies seeking to raise development funds and to assist portfolio companies in their development. Origo Altai Partners intends to expand through both local and international partnerships and will work with both public and private Mongolian investors in order to assist the development of a sustainable, fast growing Mongolian economy.
Luke Leslie will take on the additional responsibility as Mongolia Country Manager, splitting his time between Beijing and Ulan Bator. Mr. Leslie is also Origo's Head of Mining where he has been leading the team for the past two years. Previously he was with the corporate finance team at investment bank UBS where he worked on mining and natural resource related transactions. The founding team of Origo Altai Partners comprises a mix of international and local finance professionals and local geologists.
Commenting on today's announcement Chris Rynning, Chief Executive Officer of Origo said:
"Mongolia is currently the single most attractive private equity destination for investors looking to play a part in natural resources development driven by demand from China. Our new office in Mongolia is part of a longer term strategy to position Origo to play a significant role throughout the China related supply chain where we currently see the largest China related investment opportunities in copper, coal, iron ore and related infrastructure."
Further information:
| Origo Partners PLC Chris Rynning (chris@origoplc.com) Niklas Ponnert (niklas@origoplc.com)
|
+86 1390 124 6417
+86 1351 106 1672 |
| Nominated Adviser to OPP: Smith & Williamson Corporate Finance Limited Azhic Basirov | +44 (0)20 7131 4000 |
| Broker to OPP: Liberum Capital Limited Simon Atkinson | +44 (0)20 3100 2222 |
| Public Relations: Aura Financial Andy Mills / Nina Legge | +44 (0)20 7321 0000 |
Notes to editors:
Origo Partners:
• Origo is an established private equity investor and strategic consultancy business, which provides its shareholders with exposure to growth opportunities and private equity returns based on the China growth story.
• Origo's business model is to generate capital gains from private equity investment in growth companies from which it also generates fees for consultancy services related to further fundraisings, M&A and strategic development.
• Origo has a significant portfolio of investments in a range of industrial sectors, including metals and mining, agriculture, renewable energy/clean tech and technology, telecom and media ("TMT").