Strawbear Entertainment to Acquire Culture Fund Interests for 30 Million Yuan

MT Newswires Live07-23

A subsidiary of Strawbear Entertainment Group (HKG:2125) agreed to acquire limited partnership interests in Hexie Yuanda (Yixing) Cultural Industry Investment Fund from Tuhui Investment.

The interests worth 30.0 million yuan were subscribed by Tuhui Investment but were unpaid.

With the acquisition, Strawbear has entered the fund's partnership with a capital commitment of 30.0 million yuan, a Tuesday filing with the Hong Kong Exchange said.

The fund's investment objective is to focus on cultural, sports, and tourism consumption scenarios, the digital economy, and innovations for cultural, sports, and tourism industries, among others.

The company's shares were up over 4% on Tuesday's close.

Price (HKD): $0.48, Change: $+0.02, Percent Change: +4.35%

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