Taoping: Up on deal to set up unit in Zhenjiang economic zone
11/06/2021 14:06
** Shares of cloud-based platform provider Taoping TAOP.O
up ~4% at $5.18 in premarket trading
** Signs cooperation framework agreement with Zhenjiang
Economic and Technological Development Zone (ZETDZ) for its East
China Expansion Project urn:newsml:reuters.com:*:nGNX4Yb7y2
** Plans to set up a wholly-owned subsidiary in ZETDZ with
planned registered capital of $30 million
** Co's East China Expansion Project includes establishing
the Taoping G cloud data center, mainly serving East China,
providing cloud application services, including cloud desktop
and gaming
** TAOP stock has nearly doubled YTD
(Reporting by Rishi Kant in Bengaluru)
((Rishi.Kant@thomsonreuters.com))