02:02 AM EDT, 09/05/2022 (MT Newswires) -- KNT Holdings (HKG:1025) signed a joint venture deal with Cocoon Holdings' (HKG:0428) Studio V unit for new business opportunities, according to a bourse filing on Friday.
The apparel products company will finance its investment in the joint venture through its internal resources or by fundraising.
KNT's board believes the partnership can help the company further expand in the procurement and distribution business for branded fashion, garments, and accessories in China , as well as in its product reach through the outlet partner's platform, in the property management business, and in other relevant industrial supply chain business and services.
Shares climbed 4% in recent trade.
Price (HKD): $0.50, Change: $+0.02, Percent Change: +4.21%