27 Sep 2010 10:05

27 September 2010
Origo Partners sells stake in E-Bill
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Origo Partners Plc ("Origo") today announced that it has agreed to dispose of its 7% stake in E-Bill China Holding Ltd ("E-Bill"), a Chinese electronic payment services provider.
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The stake, acquired for US$2 million, will be sold back to E-Bill's founding shareholder for US$2.8 million in cash - a 1.4x cash to cash return on the cost of the investment. The net proceeds of the transaction will be used to fund further investments, primarily in the natural resources and clean-technology sectors.
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Commenting on today's announcement, Chris Rynning CEO of Origo said:
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"Our decision to divest our stake in E-Bill is driven by our desire to re-deploy capital to the sectors in which we see the strongest long-term growth prospects.
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"Whilst we have had a productive relationship with E-Bill's management team and view it as a successful partnership, our increased focus on the natural resource and clean-technology sectors means our stake in E-Bill is no longer core to our investment portfolio."
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For further information about Origo please visit www.origoplc.com or contact:
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Origo Partners plc Chris Rynning (chris@origoplc.com) Niklas Ponnert (niklas@origoplc.com) Â | Â +86 1390 124 6417 Â +86 1351 106 1672 |
Broker and Nominated Adviser Liberum Capital Limited Simon Atkinson/ Ellen Francis  | +44 (0)20 3100 2222 |
Public Relations: Aura Financial Nina Legge | +44 (0)20 7321 0000 |
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Notes to editors:
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Origo Partners:
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Origo is an AIM-listed private equity investor and strategic consultancy business which provides its shareholders with exposure to China-linked investment opportunities.
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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.
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Origo invests directly in high growth Chinese companies as well as in companies based around the world with significant exposure to Chinese export markets.
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Origo's investment in E-Bill
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In March 2008, Origo acquired an initial 5% equity stake in E-Bill for a total cash consideration of US$1.3 million, followed by an agreement in September 2008 to subscribe for a further US$700,000 of preferred stock. The follow-on subscription was completed at a 10% premium to the original subscription price, bringing Origo's total equity stake in E-bill, on a fully diluted basis, to approximately 7%.
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