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Nanjing Central Emporium (Group) Stocks Co Ltd to Set up Joint Ventures


Monday, 20 May 2013 08:00pm EDT 

Nanjing Central Emporium (Group) Stocks Co Ltd announced that it will invest RMB 5 million to set up a joint venture with its subsidiary, a Nanjing-based chain department store company (Subsidiary A), with each holding a 5% (the Company) and a 95% stake. The joint venture will be a Changxing-based shopping square company with a registered capital of RMB 100 million. The Company and Subsidiary A will also respectively invest RMB 2.5 million and RMB 47.50 million to set up another joint venture, in which they hold a 5% and 95% stake. This joint venture will be a Changxing-based real estate company with a registered capital of RMB 50 million.