The firm bought 300 million shares listed on the Hong Kong Stock Exchange through its Templeton Strategic Emerging Markets Fund IV (TSEMF IV), which invests in both listed and unlisted equity.
TongDa, which was founded in 1988, works in the R&D and distribution of electronics and electric appliances and metal parts, and specialises in mould lamination technology used for modern phone handsets and notebook computers.
The company has a presence in more than 20 cities worldwide and employs about 8,000 people.
Tongda chairman Wang Ya Nan remains TongDa’s largest shareholder with a 51 per cent holding.
California-based Franklin Templeton is understood to be eyeing $300m for TSEMF IV after holding a first close earlier this year.
The emerging markets-focused fund will provide growth capital, with a special sub-tranche for Asia split equally between China, India and South East Asia.
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