31st May 2016 11:11
LONDON (Alliance News) - LED International Holdings Ltd Tuesday said it has entered into a deal with Shanghai Guang Dian Asset Management Co Ltd to co fund its subsidiary Green Pearl Leasing (China) Co Ltd.
Under the agreement the companies will both contribute CNY100 million each to Green Pearl Leasing, and Shanghai Guang will receive a 50% stake in Green Pearl Leasing in return.
LED International said it believes that by entering into this agreement with Shanghai Guang it will strengthen its relationship with the company.
LED International's shares remain suspended, and will remain so until the company's accounts for the year to end-June 2015 are published. The company said it expects to report these results in the next month or so, and is also preparing its results for the half year to end-December.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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