Companies and markets

JD takes stake in a software company

JD.com, the Chinese e-commerce giant, is taking a 10 percent stake in software firm Kingdee International Software Group Co Ltd, an investment holding company, for HK$1.3 billion ($167.71 million) in a deal that could see JD enter the software market. The companies said they will enter a strategic partnership to provide small and medium-sized businesses with business management software, delivered over the cloud.

Nation's global tourist ranking surges to 17th

China has surged up the global tourist rankings over the past eight years, according to a report by the World Economic Forum. The country has gone from 71st most-popular destination in 2007 to 17th in 2015, which the study attributed to its exceptional natural and cultural resources. It also has very competitive prices, it noted. On the negative side, however, the report highlighted that the country's tourist sector is restricted by air pollution, and relatively poor services and infrastructure.

Renhe meets dollar bond repayment deadline

Renhe Commercial Holdings Co has repaid an offshore bond ahead of deadline, avoiding a default and easing concerns about worsening credit stress in China's dollar debt market. The Harbin, Heilongjiang province-based developer's $78.71 million of 11.75 percent notes matured on Monday, according to data compiled by Bloomberg. The redemption rewarded investors who held out for full payment after snubbing Renhe's discounted bond buyback in December, a deal that Standard Poor's said amounted to a default.

KKR's Sunner stake to fund factory expansion

Fujian Sunner Development Co Ltd and global investment firm KKR Co have concluded a joint investment deal first revealed last year. KKR announced in August it would invest around $400 million in the Shenzhen-listed Sunner for an 18 percent stake at 12.3 yuan ($2) per share. Since the strategic cooperation was announced, Sunner said it had strengthened and expanded its premium customer base and also been selected as the only Chinese chicken meat supplier of McDonald's in China.

Huatai draws Tencent, NetEase to $4.5b IPO

Huatai Securities Co, China's fourth-largest listed brokerage by revenue, has attracted two headline cornerstone investors to its debut share sale in Hong Kong, which will raise as much as $4.5 billion. The Nanjing-based company has agreed to sell as much as $1.9 billion of the offering to 13 cornerstone investors, according to terms for the deal obtained by Bloomberg. It revealed that Pony Ma Huateng, the chairman of Tencent Holdings Ltd, has committed to investing $100 million to the offering.