Bill Gates Foundation invests in Beiren Group

Shares in Beiren Printing Machinery Holdings soared after Microsoft chairman Bill Gates' charitable foundation became a major shareholder in the Chinese press manufacturer.

The Bill and Melinda Gates Foundation, set up by Gates and his wife, paid HK$15.65 million (c. USD 2 million) to buy 7.08 percent, or 7.08 million shares, of the mainland-based printing machinery maker at an average price of HK$2.21 on July 2, according to a stock exchange filing late.

The Gates Foundation is said to favor investments in the package/print machine industry, and it reported that J.S.Machine, one of China’s leading printing and packaging machine manufacturers, is a potential target.