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ISoftStone to Invest 40 Million Yuan in Partnership Fund; Shares Jump 11%

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ISoftStone Information Technology (SHE:301236), through unit Beijing iSoftStone Xutian Technology Development, plans to invest 40 million yuan in a partnership fund as a limited partner, according to a Shenzhen bourse filing on Thursday.

The Chinese IT service and consulting company's shares jumped 11% during Friday's midday trade.

The fund, Gongqingcheng Jianchi Shengqi Venture Capital Partnership (Limited Partnership), aims to raise capital of up to 702.1 million yuan and will have an operating term of five years, with a three-year investment period and a two-year exit period.

ISoftStone will own 5.7% of the fund.

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