Brief: JY Grandmark Holdings Announces Disposal Of Interest In Unit

JY Grandmark Holdings

28/10/2020 09:04

Oct 28 (Reuters) - JY Grandmark Holdings Ltd  2231.HK :
    * SHAANXI TRUST TO INVEST IN MAX RMB910 MILLION IN GUANGZHOU
XINZE
JIYONG REAL ESTATE DEVELOPMENT
    * ABOUT RMB116.67 MILLION OF RMB910 MILLION TO BE INJECTED
AS
REGISTERED CAPITAL OF SPV FOR SUBSCRIPTION FOR 70% STAKE IN SPV
    * SPV TO BE HELD BY SHAANXI TRUST, GUANGZHOU JINKE &
GUANGZHOU
YINONG AS TO 70%, 14.7% & 15.3%, RESPECTIVELY
    * REGISTERED CAPITAL OF SPV WILL BE INCREASED FROM RMB50
MILLION
TO ABOUT RMB166.67 MILLION

Source text https://bit.ly/2Hy9R01
Further company coverage:  2231.HK 

 ((Reuters.Briefs@thomsonreuters.com;))