Soros invests $100mln in Minsheng

Soros Fund Management LLC, founded by George Soros, has spent $100 million to invest in China Minsheng Banking Corp Ltd.

It plans to issue 3.82 billion H shares in an initial public offering on the Hong Kong Stock Exchange, sources reported. 

In addition, private equity fund Hopu Fund has spent US$1 billion subscribing the H shares, according to a report in China Knowledge. 

The U.S. Tiger Fund has reportedly inked an agreement with the Chinese lender to purchase 50 million worth of Minsheng Bank's H shares before its road show in the U.S. UK Atlantis Investment Management has also allocated US$50 million to invest in the Chinese bank, and it may expand the investment to US$100 million later.