Junbayen (08372.HK) announced that Techmetics has entered into an investment agreement with Techmetics on November 24 to issue and issue subscription shares equal to 0.95% of its enlarged share capital, with a total subscription price of USD25 million, a compound contract of HK$195 million.
Junbayyan will form a joint venture with Chairman, Chief Executive Officer and Executive Director Wong Bi-jun and Techmetics through subsidiaries. The initial registered capital of the joint venture will be USD 50 million and will be invested in 20%, 40% and 40% in cash by Junbayyan, Wong Beijun and Techmetics, respectively.
The joint venture will be primarily engaged in providing autonomous mobile robot solutions to the healthcare industry in relevant jurisdictions; manufacturer of proprietary equipment; and R&D.