Weilong Delicious Global Units and Affiliate Invest 100 Million Yuan in JV Firm

MT Newswires Live06-21

Two units of Weilong Delicious Global Holdings (HKG:9985) along with He He Investment will subscribe for a total of nearly 100 million shares in JV firm HONGLONG International Holdings for 100 million yuan, a Thursday bourse filing said.

Of this, 81 million, 9.5 million, and 9.5 million shares in the JV company will be issued to the three shareholders WEILONG Investment Holdings, Yizheng Innovation Management, and He He Investment, respectively.

The investment was made in proportion to the shares the three parties already hold in HONGLONG International, according to the filing. Following the issue, the JV company's issued share capital will increase to 100 million ordinary shares from 1,000 shares previously.

He He Investment is owned entirely by HH Green Philosophy and HH Innovation Group, which are both controlling shareholders of Weilong Delicious Global.

Shares of snack food manufacturer Weilong Delicious Global closed over 3% higher on Friday.

Price (HKD): $6.26, Change: $+0.20, Percent Change: +3.30%

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