Carlyle has picked up $25m of shares in Fu Shou Yuan according to an IPO prospectus, while Farallon has picked up $10m and Chinese bad-debt giant China Cinda $10m.
The company is preparing to launch a $215m IPO on the Hong Kong Stock Exchange, offering 500 million shares for between HK$2.88 and HK$3.33 each.
Reuters said that burial services, which include tomb sales that have no price controls, are the fastest growing and biggest segment of the industry, expected to rise 17.9 per cent a year through 2017.
Fu Shou Yuan’s Shanghai cemetery charges up to 500,000 yuan for a six-by-six metre plot, tombstone and associated services, it added.
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