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A foreign group has bought US$25 million worth of convertible bonds from Datang Mobile, in a show of support for a key developer of China¡¯s third-generation (3G) mobile standard, TD-SCDMA, the South China Morning Post reported Thursday.

The group's three members are Korea Development Bank's private equity arm, Korean venture capitalist STIC Investments and SeaBright China Special Opportunities, a fund co-owned by U.S. Seagate Global Advisors and China Everbright, the Hong Kong-based newspaper reported.

Beijing-based Datang Mobile will soon announce further rounds of private equity investment, aiming to raise up to US$100 million by the end of this year, the paper said, quoting Liu Guoyi, the company¡¯s director of investment and finance, as saying.

(For more biz stories, please visit Industry Updates)