China New Enterprise Investment (CNEI) Exits Liyuan Aluminum (Asia)
Posted On: 28 Apr 2013 | Source: China New Enterprise Investment
China-focused growth capital investor China New Enterprise Investment (CNEI) has sold its stake in Jilin Liyuan Aluminum , a Chinese manufacturer of aluminum extrusion products, for a total value US$77.2 million on the Shenzhen SME Board. CNEI originally invested US$7.5 million in Liyuan for a 16 percent stake in July 2008, and the company held an initial public offering on the Shenzhen SME Board in 2010. The exit provided CNEI with 10.3x cash-on-cash return multiple.