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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
 
 
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