Reportedly, Temasek led an investment of US$50M in Henan Nanyang Tongbai Anpeng Trona Mine Co., Ltd. ("Tongbai Anpeng Trona Mine" for short) for an approximately 20% stake of the enlarged shares. Another investor of this round was a private equity fund invested by the Columbia University. 

It is revealed that the transaction has been completed by means of establishing a domestic joint venture company. Currently brokers have been employed as underwriters to prepare for the A-share listing in 2009. 

Located in Anpeng Village, Tongbai County, Nanyang City, Henan Province, Tongbai Anpeng Trona Mine. was established in August 1998 with a registered capital of RMB266 million. Its original shareholders included Inner Mongolia Yuanxing Trona Co., Ltd. (holding 60% shares), Henan Oil Exploration Bureau under SINOPEC Group (35% shares), and Tongbai State-owned Assets Management Co., Ltd. (5% shares). 

This time the shares for Temasek are enlarged shares from the increased investment.