China's state foreign exchange investment company invested $3B in Blackstone's BX) IPO at a 4.5% discount, so they paid $29.605 per share. Blackstone's stock closed Friday at $24.30. China has on paper already lost 18% of its investment, or approximately $540m.China has effectively lost half a billion US dollar in a month time: a painful way to reduce the trade surplus.
Saturday, July 28, 2007
China losing heavily on Blackstone investment
Billsdue is looking thoroughly at the first endavour of the Chinese central government in the international investment and wonders whether they have been screwed.
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1 comment:
They're in it for the Long Term. Like any good investor. You cannot expect them to walk the daytrading path with 1,3 trillion. It's a Long March :)
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