Jiangsu Broadcasting Cable Information Network to Invest 30 Million Yuan in Tech JV

MT Newswires Live

02/10

Jiangsu Broadcasting Cable Information Network (SHA: 600959) plans to invest 30 million yuan for a 20% stake in a technology joint venture.

The joint venture, with a registered capital of 150 million yuan, aims to build a localized information and communication technology and artificial intelligence computing brand in Jiangsu, according to a Monday filing with the Shanghai bourse.

Controlling shareholder Jiangsu Culture & Technology will hold a 34% stake in the joint venture.

Shares of the information dissemination services provider rose 5% in recent trade.

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