HONG KONG Dec 13 Private equity firm RRJ
Capital, founded by former Goldman Sachs dealmaker
Richard Ong, has paid $350 million for a stake in
waste-to-energy company China Everbright International Ltd
, according to a Hong Kong stock exchange filing.
China Everbright International earlier announced plans to
raise HK$3.66 billion ($472.02 million) by issuing 430 million
new shares at HK$8.52 each.
RRJ bought 318.36 million of the shares, or 7.85 percent of
China Everbright's issued share capital, according to the
filing. On Friday, the shares were trading down 1.3 percent at
China Everbright is RRJ's second bet on China's waste
recycling industry, as the country's government seeks to tackle
In October, RRJ invested $33 million in China-focused water
treatment company SIIC Environment Holdings Ltd with
China sovereign wealth fund CIC..