The China Investment Corporation (CIC) has participated in Prince Frog International Holdings’ $100 million initial public offering in Hong Kong (IPO), The Asset reports. The Chinese sovereign wealth fund along with China Life Insurance (Group) and Franklin Templeton Investment took part in the offering.

The company, which sold 300 million shares, appointed CCB International (Holdings) to manage the deal. Prince Frog seeks to use the proceeds from the offering for expansion purposes.

Click here for the story from The Asset.