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Trendzon Unit to Reduce Stake in Proposed Industrial Park Project with New Investment from Private Equity Fund; Shares Climb Nearly 8%

MT Newswires ·  {{timeTz}}

01:42 AM EDT, 08/10/2022 (MT Newswires) -- Trendzon Holdings Group's (HKG:1865) Trendzon (Guangzhou) Construction Investment unit and Zhongbei Yi'an (Hainan) Private Equity Fund Management entered into a deal, under which the private equity fund agreed to inject 9.8 million yuan ($1.5 million) of new capital into Trendzon (Guangzhou) Industrial Park Investment Development.

Zhongbei Yi'an also plans to provide loans of up to HK$300 million to Trendzon (Guangzhou) Industrial Park to support its development and push forward the construction of the Trendzon Diandian Science and Technology Innovation City in Guangdong Province, China.

With the deal, Trendzon Holdings' controlling interests in Trendzon (Guangzhou) Industrial will be reduced to 51% from 100% upon completion of the capital increase. The JV will also remain a subsidiary of the construction engineering company.

Shares climbed nearly 8% in recent trade.

Price (HKD): $0.71, Change: $+0.05, Percent Change: +7.58%

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