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Buyer Community> Trade Intelligence> Technology> Quam Signs Cooperation Framework Agreement Forming a VC Fund of Initial RMB200 Million with Xi'an State-owned Parties
Source: ACN Newswire

Quam Signs Cooperation Framework Agreement Forming a VC Fund of Initial RMB200 Million with Xi'an State-owned Parties

Published: 21 Dec 2009 01:18:46 PST
Hong Kong, Dec 21, 2009 - ( ACN Newswire ) - Quam Limited ("Quam" or the "Group", Stock Code: 952.hk), a prominent Hong Kong-based financial services group, announced that its indirect wholly-owned subsidiary signed a Cooperation Framework Agreement with Shaanxi Provincial Venture Investment Guiding Fund Management Center ("Shaanxi Fund") and the Commission of Xi'an High Tech Industries Development Zone ("XHTZ") on 17 December 2009. This will be the second venture capital fund of Quam in China (the first foreign investment venture capital in Suzhou New District is now undergoing approval stage).

Pursuant to the Cooperation Framework Agreement, the initial fund size is RMB200 million which will be operated as a private equity for investing in high-tech enterprises mainly in Xi'an High-tech Zone of Shaanxi Province. A venture investment management company will be set up in Xi'an and is responsible for the fund management.

Mr Kenneth Lam Kin Hing, the Deputy Chairman of Quam, is delighted for the expansion of venture capital fund in China and said, "We are excited to explore another venture capital fund in Xi'an followed by our successful start in Suzhou this May. Xi'an was a renowned city in ancient time and now becomes a cradle of high-tech companies, representing a great development potential for our fund. We strive to work closely with Shaanxi officials in the coming months to roll out the new business, bringing in satisfactory returns to our partners in the near future."

"We are happy to provide our professional financial and advisory services to dynamic enterprises that grow rapidly in Xi'an, in turn increasing the competitiveness of the local community. Our capability of bringing good company to the capital market is proven. We have done one recently in Hong Kong and the company shares were well-received by the market with public offer of more than 300 times over-subscription."

Shaanxi Fund is a non-profit oriented provincial fund that managed by Shaanxi Provincial Development and Reform Commission.

Established in 1991, XHTZ is a Xi'an state-owned enterprise in Shaanxi Province. It is conceived as a "core location" for investment by high-tech industrial companies eying the world markets, as well as the Centre and the Northwest of China. In 2008, XHTZ achieved an operative income of RMB241.06 billion, over 30% up year-on-year.

AboutQuam Limited

Quam Limited is a Hong Kong-based financial services group which was listed on the SEHK in 1997. After a series of strategic acquisitions beginning in 2001, the Group is now comprised of several renowned businesses, including Quam Securities, Quam Capital, Quam Asset Management, Quam Wealth Management, Quamnet.com and Quam Investor Relations. By utilizing the best of its both online resources and solid expertise, Quam strives to become the ideal partner for both institutional and retail investors in Hong Kong and China. Quam also offers premier one-stop financial services to its clients. In addition, Quam provides capital markets services through its representative offices or the wholly-owned foreign enterprise in Shenzhen, Shanghai and Shenyang of China and by means of its Global Alliance Partners network in Tokyo, Bangkok, Dubai, the United States and Vietnam. For more information on Quam, please visit its website at www.quamlimited.com.

Contact :
Quam IR

Ms Anita Wan
Tel: +852-2217-2687
E-mail: anita.wan@quamgroup.com
Ms Sharon Au
Tel: +852-2217-2680
E-mail: sharon.au@quamgroup.com

Ms Venus Lam
Tel: +852-2217-2909
E-mail: venus.lam@quamgroup.com

Copyright 2009 ACN Newswire. All rights reserved. www.acnnewswire.com
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