State-Owned Developer Sets Up Joint Venture to Tap Into Anbang Assets
State-owned developer Sino-Ocean Group Holding Ltd. is forming a joint venture with Anbang Insurance Group, tapping into the latter’s real estate portfolio at a time when the government is restructuring the debt-ridden insurer.
Sino-Ocean said in a filing to the Hong Kong Stock Exchange on Thursday that both parties will each contribute 100 million yuan ($15.7 million) for a 50-50 stake in Beijing Bangbang Commercial Property Co.
- 1China’s Moon Explorer Posts Photo of Sprouting Cotton Plant
- 2Huawei Canada Exec Quits as Scandal Continues to Embroil Company
- 3Luckin Coffee Reportedly Seeks IPO in Hong Kong
- 4Bank of China to Test Waters for Perpetual Bonds
- 5Apple Chief Counsel Accuses Qualcomm of Holding Smartphone-Makers for ‘Ransom’
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas