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Minmetals Land Ltd's Ample Leading Announces Formation Of Joint Venture For Development Of Land In Jianye District And Disposal Of Equity Interest In Subsidiary

Monday, 28 Oct 2013 08:47am EDT 

Minmetals Land Ltd announced that on October 28, 2013, Ample Leading (a wholly owned subsidiary of the Company), the JV Company and the Investor entered into the Capital Injection Agreement, pursuant to which the Investor will inject RMB1.8 billion (approximately HKD2.28 billion) into the registered capital of the JV Company. At Completion, the Investor will hold approximately 33.33% of the enlarged registered capital of the JV Company and Ample Leading's equity interest in the JV Company will reduce from 100% to approximately 66.67%. Following the Capital Injection, the JV Company will change from a wholly foreign owned enterprise to a Sino-foreign equity joint venture, and will remain a subsidiary of the Company. 

Company Quote

0.01 +1.15%
3:59am EDT