Citic gets seat at Tourism Holdings in $80 mln capital raising

Sun, 23 Jun 2019

By Paul McBeth June 24 (BusinessDesk) - Chinese investment manager Citic Capital will get a seat on Tourism Holdings' board, paying full price to lift its stake in the rental RV operator as part of an $80 million capital raising. Citic, which oversees US$26 billion of assets, will pay $4.02 a share in a $30 million placement to increase its shareholding to 16.9 percent. It will appoint its vice chair Guorong Qian to the THL board as a non-independent director. The shares closed at $4.04 on Friday. Tourism Holdings will also raise $50...

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