The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksOPP.L Regulatory News (OPP)

  • There is currently no data for OPP

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Origo Partners partially exits Rising

10 Jan 2011 07:00

RNS Number : 1297Z
Origo Partners PLC
10 January 2011
 



 

10 January 2011

 

Origo Partners partially exits Rising

 

Origo Partners Plc ("Origo") today announced the disposal of 50 per cent of its interest in Beijing Rising Information Technology Ltd. ("Rising InfoTech") for RMB 41 million (US$6.2 million).

Rising InfoTech and its affiliate Rising Technology Corporation Ltd ("Rising Tech") form one of China's largest anti-virus and software security groups ("Rising"). Since it was established in 1991, Rising has built one of the leading brands in the sector and a diversified portfolio of network security products, which is marketed and sold to both consumer and enterprise clients.

 

Origo acquired a 2 per cent interest in the group in January 2007 for US$7 million through a secondary transaction settled by US$3 million in cash and US$4 million in Origo stock. Origo has now sold 50 per cent of its beneficial interest in Rising InfoTech to a local Chinese investment company. The transaction generated gross proceeds of RMB 41 million (US$6.2 million) whilst providing Origo with continued exposure to a fast growing company in an attractive market. Following the disposal, Origo will retain a 1per cent beneficial interest in Rising InfoTech and a 2 per cent stake Rising Tech. Origo's investment in Rising was valued at US$12.5 million in its non-audited accounts for the period ended 30 June 2010.

 

Commenting on today's announcement, Chris Rynning, CEO of Origo said:

 

"This transaction underlines our growing track record of successfully realizing value from selected portfolio companies while raising cash to fund new investment opportunities in our two core investment areas - natural resources and clean technology. In the case of Rising, we are particularly pleased to have been able to sell a part of our position at a healthy profit, while maintaining an interest in one of China's largest privately held software companies and well-known consumer brands."

 

 

For further information about the Origo please visit www.origoplc.com or contact:

 

Origo Partners plc:

Chris Rynning

(chris@origoplc.com)

Niklas Ponnert

(niklas@origoplc.com)

 

 

+86 1390 124 6417

 

+86 1351 106 1672

Broker and Nominated Adviser:

Liberum Capital Limited

Simon Atkinson/ Ellen Francis

 

+44 (0)20 3100 2222

Public Relations:

Aura Financial

Andy Mills / Nina Legge/ Mike Bartlett

+44 (0)20 7321 0000

 

Notes to editors:

 

Origo Partners:

 

Origo is an AIM-listed private equity investor and strategic consultancy business which provides its shareholders with exposure to China-linked investment opportunities.

 

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.

 

Origo invests directly in high growth Chinese companies as well as in companies based around the world with significant exposure to Chinese export markets.

 

Rising:

 

Beijing Rising Information Technology Ltd. was established in June 2006. Its predecessor, established in 1991, is Beijing Rising Computer Technology Development Department. Rising is one of the earliest enterprises engaged in computer virus prevention in the world. Rising is dedicated to the research, development, production and sale of computer antivirus products, network security products, and anti-hacker products. Rising possesses all the intellectual property rights and a number of patented technologies for all the products.Rising has introduced a variety of operating system based antivirus software, firewall software and enterprise antivirus wall, firewall, network security warning systems and other hardware products. Rising is the third company in the world and the only one in China to provide a full range of information security products and professional services.

Rising has over 80 million personal users and more than 70,000 corporate customers in Asia, Europe and Northern America. Rising technology for the search of unknown computer viruses is recognized and protected by patents in Europe, Japan and the United States of America.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCEDLFBFFFZBBD
Date   Source Headline
30th May 20227:00 amRNSCancellation - Origo Partners Plc
27th May 20226:00 pmRNSOrigo Partners
28th Apr 20227:30 amRNSSuspension – Origo Partners plc
26th Apr 20227:00 amRNSSuspension from Trading
7th Mar 20227:00 amRNSAsset Sale Update
2nd Feb 20227:00 amRNSReturn of Capital and Asset Sale
27th Jan 20223:16 pmRNSAsset Sale
24th Dec 202110:46 amRNSResult of AGM
6th Dec 20213:34 pmRNSNotice of AGM
3rd Dec 20217:00 amRNSInvestment Update
22nd Sep 20217:00 amRNSHalf-year Report
28th Jun 20217:00 amRNSAnnual Financial Report
4th Jun 20217:00 amRNSSale of Shares in Gobi Coal & Energy Ltd
14th May 202111:18 amRNSHolding(s) in Company
9th Mar 202112:20 pmRNSHolding(s) in Company
8th Mar 20217:00 amRNSStatement re share price movement
24th Feb 20214:27 pmRNSHolding(s) in Company
23rd Feb 20219:53 amRNSHolding(s) in Company
27th Jan 20218:38 amRNSUpdate re Website
22nd Jan 202110:03 amRNSUpdate re Remaining Assets
24th Dec 202011:20 amRNSResult of AGM
24th Dec 202010:14 amRNSHolding(s) in Company
24th Dec 20209:51 amRNSHolding(s) in Company
17th Dec 202012:38 pmRNSHolding(s) in Company
30th Nov 20204:30 pmRNSNotice of AGM
28th Sep 20207:00 amRNSHalf-year Report
23rd Sep 20207:09 amRNSPrice Monitoring Extension
23rd Sep 20207:02 amRNSSecond Price Monitoring Extn
22nd Sep 20202:06 pmRNSSecond Price Monitoring Extn
22nd Sep 20202:01 pmRNSPrice Monitoring Extension
30th Jun 20207:00 amRNSAnnual Financial Report
12th Jun 20207:00 amRNSInvestment update
20th May 202011:00 amRNSHolding(s) in Company
7th May 20207:00 amRNSUpdate RE: Liquidation Plans
29th Apr 20202:06 pmRNSSecond Price Monitoring Extn
29th Apr 20202:02 pmRNSPrice Monitoring Extension
17th Mar 202012:12 pmRNSChange of Registered Office & Update on Website
12th Mar 20203:32 pmRNSWebsite
4th Feb 20207:00 amRNSInvestment Update
24th Dec 20197:00 amRNSInvestors update
11th Nov 201911:33 amRNSHolding(s) in Company
30th Oct 20194:16 pmRNSResult of AGM
23rd Oct 201910:41 amRNSHolding(s) in Company
23rd Oct 201910:39 amRNSHolding(s) in Company
4th Oct 20194:23 pmRNSNotice of AGM
27th Sep 20194:25 pmRNSReplacement Capital Distribution
27th Sep 201911:05 amRNSReplacement Interim Unaudited Financial Statements
27th Sep 20197:05 amRNSCapital Distribution
27th Sep 20197:00 amRNSInterim Unaudited Financial Statements
28th Jun 20194:15 pmRNSPosting of Annual Report

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.