21st Apr 2010 07:05
21 April 2010
Kubera Cross-Border Fund Limited
Realisation of Investment and Distribution of Proceeds
Kubera Cross-Border Fund Limited (the "Fund") (LSE/AIM: KUBC) announces that it has sold the entirety of its position in Infotech Enterprises. Proceeds of $1.9 million were received by the Fund, representing a gross multiple of 2.2x and a gross cash-on-cash IRR of 70%. Pursuant to the announcement dated April 15, 2009, the Fund intends returning the net investment proceeds to shareholders, in the form of a buyback of shares at market prices. The Fund will work through its broker, Numis Securities, to repurchase shares.
About Kubera Cross-Border Fund Limited
Kubera Cross-Border Fund Limited is a closed-end investment company incorporated in the Cayman Islands and traded on the AIM market of the London Stock Exchange. The Fund makes private equity investments in cross-border companies, primarily in businesses that operate in the US-India corridor. The Fund's investment manager, Kubera Partners, brings a strong track record of investing in or managing such businesses. Several of the Fund's portfolio companies also benefit from business activities in the growing Indian domestic market. For further information on the Fund, please visit www.kuberacrossborderfund.com.
For more information contact:
Ramanan Raghavendran, Managing Partner
Kubera Partners, LLC (Investment Manager of Kubera Cross-Border Fund Limited)
Tel.: +1 (212) 295 2400
Email: [email protected]
Numis Securities Limited (Broker)
David Benda, Director
Tel.:+44 (0) 20 7260 1275
Email: [email protected]
Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett, Partner
Tel.: +44 (0) 20 7383 5100
Email: [email protected]
Related Shares:
KUBC.L