<article>Chinese alternative asset fund manager <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=CDH+Investments" target="_blank">CDH Investments</a> has sold its entire stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Beijing+Digital+Telecom" target="_blank">Beijing Digital Telecom</a> (BDT) for $47 million in Hong Kong.</article>

Chinese alternative asset fund manager <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=CDH+Investments" target="_blank">CDH Investments</a> has sold its entire stake in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Beijing+Digital+Telecom" target="_blank">Beijing Digital Telecom</a> (BDT) for $47 million in Hong Kong.
According to <a style="color: #000080;" href="http://sdinotice.hkex.com.hk/di/NSForm2.aspx?fn=294727&amp;sa2=an&amp;sid=50000960&amp;corpn=Beijing+Digital+Telecom+Co.%2c+Ltd.+-+H+Shares&amp;sd=22%2f05%2f2015&amp;ed=11%2f03%2f2016&amp;sa1=cl&amp;scsd=17%2f03%2f2015&amp;sced=17%2f03%2f2016&amp;sc=6188&amp;src=MAIN&amp;lang=EN&amp;" target="_blank">this regulatory filing</a>, CDH sold 71 million H-shares at a price of HK$5.15 per share.
Founded in 1993, BDT is China&#8217;s largest mobile telecommunications chain store and the third largest mobile phone retailer. In 2014, it had raised $883 million through an initial public offering in Hong Kong. It earned a revenue of RMB14.36 billion and net profit of RMB318 million in 2014, compared with RMB12.81 billion and RMB266 million respectively in 2013.
CDH Investments and <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=3i+Group" target="_blank">3i Group</a> had invested RMB200 million ($32 million) to take a combined stake of 32.46% of the company in June 2007, in preparation for an A-share offering.
CDH, which has more than $4 billion under management, had invested through its second fund, CDH China Growth Capital Fund II. CDH had four exits last year, including through a reverse merger of Focus Media Holdings and Hedy Holdings. Other exits — in online tour operator Lvmama, candy and snack food maker Dali Foods and group purchase website Wowo were through IPOs.
It had made 11 investments last year, which was a record year for venture funding in China. Those include participation in a $931 million round in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Zhong+An+Insurance" target="_blank">Zhong An Insurance</a> along with China International Capital Corporation, Keywise Capital, Morgan Stanley and SAIF Partners, and $485 million round in <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Lu.com" target="_blank">Lu.com</a> with BlackPine Private Equity Partners, China International Capital Corp., and Sagamore Investments.
London-based 3i Group manages over $19 billion of assets focusing on private equity, infrastructure and debt management. Last year, it exited Refresco Gerber in a $1.3 billion IPO round, and Good Technology, which was acquired by <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=BlackBerry" target="_blank">BlackBerry</a> for $425 million. It had co-invested $162.4 million in Aspen Pumps, along with <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Inflexion+Private+Equity" target="_blank">Inflexion Private Equity</a>.
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Chinese alternative asset fund manager CDH Investments has sold its entire stake in Beijing Digital Telecom (BDT) for $47 million in Hong Kong.

China: CDH Investments exits Beijing Digital Telecom, sells stake for $47m

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China: CDH Investments exits Beijing Digital Telecom, sells stake for $47m

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