Advancetek Enterprise (TPE:1442) board has approved the signing of a joint co-investment and development deal with Fu Rong Development, according to a Tuesday Taiwan Exchange filing.
Shares gained over 1% in Wednesday's late afternoon trade.
The contract is for an urban renewal project in Taipei, Taiwan.
Under the agreement, Advancetek will hold a 40% stake in the project, while Fu Rong Development will own the remaining 60%.
Other details were not dislcosed in the filing.
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