Guotai Junan Securities Co., Ltd. Class H (HK:2611) has released an update.
Guotai Junan Securities Co., Ltd. is set to invest RMB1 billion through its subsidiary, Guotai Junan Zhengyu, in three Shanghai-based Funds of Funds (FOFs) specializing in integrated circuits, biotechnology, and artificial intelligence. These investment moves, particularly in the Integrated Circuit FOF and AI FOF, involve cooperation with the International Group, a connected person holding a significant share of the company, and thus constitute connected transactions. While the partnership agreements are yet to be formalized, the proposed investments are significant enough to warrant reporting and annual review, but not independent shareholder approval.
For further insights into HK:2611 stock, check out TipRanks’ Stock Analysis page.