Kingdee announces $200 million investment from Qatar Investment Authority

Kingdee International Software Group Co Ltd and Qatar Investment Authority announced on Monday an agreement subject to which QIA will invest around $200 million in consideration for new ordinary shares of Kingdee issued under the company's general mandate granted by the annual shareholders meeting, representing approximately 4.26 percent of Kingdee's total issued ordinary shares upon closing, with a lock-up period of 180 days.

The investment in Kingdee aligns with QIA's strategic approach to invest in companies and technologies that are leading global digitalization and shaping the future enterprise ecosystem.

Xu Shaochun, chairman and CEO of Kingdee, said: "This strategic investment underscores Kingdee's increasingly leading position in China's enterprise digital management industry and further supports our international growth strategy."

Kingdee, established in 1993, is a provider of management cloud SaaS (software as a service). Listed on the Hong Kong bourse, the company is headquartered in Shenzhen, a tech hub in South China's Guangdong province. The company's major cloud service products have been selected by many industry lighthouse customers. So far, Kingdee has provided management software and cloud services for more than 7.4 million enterprises, governments and organizations across the world.

Mohammed Al-Hardan, head of technology, media and telecommunications department at QIA, said: "Qatar Investment Authority is committed to investing in technology companies driving global innovation. We believe in the long-term growth opportunity of Asia's software sector and recognize Kingdee as a category leader and key enabler of enterprise cloud transformation. We are pleased to add Kingdee to our growing Asia TMT portfolio."

QIA is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the State's reserve funds. It is among the largest and most active sovereign wealth funds globally.

zhuangqiange@chinadaily.com.cn