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Mecox Lane Ltd Announces Joint Venture With Giosis Pte. Ltd

Wednesday, 19 Dec 2012 04:30am EST 

Mecox Lane Ltd announced that the proposal of a transaction with Giosis Pte. Ltd. to form a joint venture, Giosis Mecoxlane Ltd., to operate a dynamic online marketplace in China on the domain was approved at the Company's extraordinary general meeting of shareholders held in Hong Kong on December 19, 2012. Mecox Lane and Giosis expect to complete the transaction as soon as practicable. Upon the closing of the transaction, Giosis would initially hold 60% and Mecox Lane would initially hold 40% of the outstanding equity interests of Giosis Mecoxlane, assuming the conversion of the Series A Preferred Shares of Giosis Mecoxlane. 

Company Quote

0.05 +1.32%
20 Oct 2014