Fujian window company Sino Earn Holding has acquired a 10.2 per cent stake in listed Triplenic Holdings to help it pursue mainland ventures. The 89 million shares acquired are worth $267 million. Sino Earn is 70 per cent held by Fujian Huaxing Industrial Co, which invests in hotel, property, shopping mall, infrastructure and industrial projects. The remaining 30 per cent is owned by Fujian Huaxing Trust and Investment Co, which channels funding for major infrastructure in the province. Both are wholly owned by the finance department of the provincial government. Triplenic said on Monday it was looking to acquire a cement factory.
