China New Town Development Co. Ltd. (HK:1278) has released an update.
China New Town Development Co. Ltd. has announced a major new investment partnership with the establishment of a RMB 1 billion fund on May 23, 2024. The partnership includes Beijing Xincheng, Wuxi Kaihe, Hainan Yunhu, and Yixing New, with varying capital contributions and Wuxi Kaihe serving as the executive partner. The deal is significant enough to be classified as a major transaction according to the Listing Rules, but does not require a general meeting for shareholder approval due to written consent from major shareholders.
For further insights into HK:1278 stock, check out TipRanks’ Stock Analysis page.
