China Wantian, B.Duck Semk Units Set Up Cultural Tourism Venture
MT Newswires Live
May 19
China Wantian (HKG:1854), through its indirect wholly owned subsidiary, formed a joint venture with a unit of B.Duck Semk (HKG:2250) to develop integrated cultural and commercial tourism projects in China, a Monday Hong Kong bourse filing said.
Shares of Wantian fell almost 5% in recent trade.
Under the agreement, the joint venture will be owned 55% by China Wantian's Shenzhen Wantian Industrial Innovation unit and 45% by the B.Duck Semk subsidiary.
The venture will focus on investment, development, and operation of IP-themed cultural tourism projects in China, and will have an initial registered capital of 500,000 yuan.
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