Datang Telecom'S Overweight Internet Of Things &Nbsp; Intends To Set Up 5 Billion Investment Funds.

Datang Telecom evening announcement, approved by the company's board of directors, the company and the Jiangsu Internet research and development center, Wuxi City Alliance Development Group, Wuxi new district innovation and investment group agreed to initiate the establishment of a scale of 5 billion of the equity investment fund of the Internet of things.

Datang said that the fund intends to invest directly in unlisted companies such as the Internet of things and other related industries, and to merge and reorganize all kinds of listed and unlisted technology leading enterprises for the purpose of industrial integration, so as to jointly promote the development of the Internet of things and achieve capital gains.

The form of the IMF is a limited partnership with a scale of 5 billion yuan, which is raised by stages.

The first phase of the fund-raising amounted to 1 billion yuan, and the first phase of the sponsors' total subscriptions amounted to 600 million yuan, of which 200 million yuan, 100 million yuan for the Internet of things, 200 million yuan for Wuxi's League of nations and 100 million yuan for Wuxi new district.

The investment field of the fund focuses on the application direction and related fields of the Internet of things.

The fund has a duration of 7 years, including 5 years of investment and 2 years of withdrawal.

It can be postponed 2 times for 1 years after approval by the partners.

The initiator has set up a new fund management company with a registered capital of 10 million yuan.

The fund entrusts fund management company management.

The company has 40% equity interest in fund management company.

The company said that the establishment of the investment fund will promote the innovation of the domestic Internet of things industry by combining industrial capital with financial capital and government policy support, and create opportunities for the company to develop in the direction of the Internet of things industry, which will help to achieve the layout of the Internet of things in the company.

The investment is still in the stage of intentionality. If an investment agreement is signed, each party shall have the right to examine and approve the examination and approval organ.

The fund's investment duration is longer, and the company's short-term performance will not be directly affected.

Datang Telecom closed 18 yuan to 13.82 yuan, up 0.07%.