Qatar buys into CITIC

CITIC Capital Holdings Ltd said Wednesday that a unit of Qatar's sovereign wealth fund has subscribed to new shares in the Chinese investment firm, equivalent to a 22 percent stake.

CITIC Capital, partly owned by China's sovereign wealth fund, did not give financial details of the investment by Qatar Holding LLC, a unit of Qatar Investment, in its newly issued shares.

"Not only will Qatar Holding provide us with an enlarged capital base to fund our business expansion and investments, but its significant backing will also strengthen our brand positioning meaningfully as the most preferred and committed partner to invest with, both in and outside China," CITIC Capital Chief Executive Zhang Yichen said in a statement.