Wanka Online, Inc. ( (HK:1762) ) just unveiled an announcement.
Wanka Online, Inc. announced that its subsidiary, Huanju Times, has entered a Capital Injection Agreement with a joint venture partner. This agreement involves the joint venture partner subscribing to a 49% equity interest in the JV Company for RMB49,000,000 in cash. Upon completion, Huanju Times will hold a 51% stake, and the JV Company will remain a subsidiary of Wanka Online, with its financial results consolidated into the Group’s statements. This transaction, which reduces Huanju Times’ ownership from 100% to 51%, is deemed a discloseable transaction under Hong Kong Listing Rules, requiring reporting but not shareholders’ approval.
More about Wanka Online, Inc.
YTD Price Performance: 2.63%
Average Trading Volume: 490,180
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$285.3M
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