CHINESE Welcome to Nanning (China-ASEAN) Commodity Exchange !
Home > English > Media Article

Nanning (China-Asean) Commodity Exchange and Bull-B Holdings Announce to Establish Joint Ventures

Time:2016-06-27  Source:Bloomberg  Author:Bloomberg

Nanning (China-Asean) Commodity Exchange Co., Ltd. and Bull-B Holdings entered into the JV Agreement in respect of the establishment of the HK Joint Venture and the PRC Joint Venture. Pursuant to the JV Agreement, the company and Bull-B Holdings agreed, among other things, (i) to set up the HK Joint Venture for investment holding purposes; and (ii) to set up the PRC Joint Venture in Nanning for the development and sale of computer systems in relation to commodities exchange. The parties agreed that the HK Joint Venture shall be held as to 60% by the company and as to 40% by Bull-B Holdings. The parties agreed that the registered capital of the PRC Joint Venture shall be contributed in cash as to 60% by the HK Joint Venture and as to 40% by NCCE. Of the portion to be contributed by the HK Joint Venture, 60% shall be borne by the Company and 40% shall be borne by Bull-B Holdings. The principal business of the PRC Joint Venture is the development and sale of computer systems in relation to commodities exchange.

Relevant