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CPE NAV increases 31% during first half

The AIM-quoted investment group China Private Equity Holdings Ltd (CPE) has announced a 31% increase in net asset value during the six months to 30 June 2011, following its successful acquisition during the period of a 30% stake in the online financial services group Enfinium.

The company also said in its results statement it continues to anticipate a Hong Kong float within the next six months for its key portfolio asset, Fortel, a digital media and technology services company operating in China. CPE holds 33.6% of Fortel, valued during the period at USD72 million.

The first half also saw the company amend its investment policy to allow investments in businesses operating outside China but with an exposure to the Chinese market.

Chairman Patrick Macdougall, says, “This will allow more flexibility and allow the company to address a wider choice of investment projects. Enfinium was the first example of an investment made under the policy”.

Group losses for the period amounted to USD647,000 (2010: USD412,000).

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