L Capital Asia invests $20m in Asiaray Media

Singapore-headquartered pan-Asian private equity firm L Capital Asia is investing $20 million, and will be among the two corner investors in Chinese outdoor advertising firm Asiaray Media Group Ltd 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

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