<article>Singapore-headquartered pan-Asian private equity firm <a href="http://www.lcapitalasia.com/" target="_blank">L Capital Asia</a> is investing $20 million, and will be among the two corner investors in Chinese outdoor advertising firm <a href="http://www.asiaray.com/" target="_blank">Asiaray Media Group Ltd</a> initial public offer (IPO) in Hong.</article>

Singapore-headquartered pan-Asian private equity firm <a href="http://www.lcapitalasia.com/" target="_blank">L Capital Asia</a> is investing $20 million, and will be among the two corner investors in Chinese outdoor advertising firm <a href="http://www.asiaray.com/" target="_blank">Asiaray Media Group Ltd</a> initial public offer (IPO) in Hong.
The other corner investor is Shandong Peninsula, which is investing $10 million, and the two companies account for 30 per cent of the shares on offer, Asiaray said in a regulatory filing
The company aims to raise around $100 million (HK$772.2 million ) from the proposed listing.
Private-equity firm L Capital—backed by<a href="http://www.lvmh.com/" target="_blank"> LVMH Moët Hennessy Louis Vuitton SA</a>— will get between 5.02 per cent and 6.02 per cent in Asiaray Media after the listing.
Asiaray’s shares are expected to start trading on January 15, 2015.
The private equity arm of French luxury group LVMH Moet Hennessy Louis Vuitton had last year bought a controlling stake of 90 per cent in Chinese restaurant group <a href="http://www.crystaljade.com" target="_blank">Crystal Jade</a> for around $100.
(more details to follow)

L Capital Asia invests $20m in Asiaray Media

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L Capital Asia invests $20m in Asiaray Media

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