30th Sep 2015 12:07
LONDON (Alliance News) - Grand Group Investment PLC on Wednesday corrected its maiden interim results initially issued Tuesday, although it still reported a rise in net asset value per share to CNY13.69 at the end of June from CNY11.81 at the end of 2014.
It did not provide an explanation for the correction.
It had previously said its net asset value per share as at end-June was CNY18.54, up from CNY16.04 at the end of 2014.
Grand Group provides expansion capital and services to China based small and medium enterprises.
Grand Group raised GBP7.1 million in its listing in January, which it put towards making its second investment a 15% stake in online learning products provider Jinxuntong for CNY20 million.
"After paying IPO expenses and making our first investment, we still have over CNY48 million for further investments and are actively pursuing new opportunities," said Non-Executive Chairman James Newman in a statement Tuesday.
Shares in Grand Group were untraded Wednesday. They last closed at 102.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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