Noble Century Investment (02322) said it entered into a legally binding term sheet with Zhong Sui Trade Limited to jointly invest in a joint venture company.
The initial issued share capital of the JV hall be HK$100,000, 80% of which shall be held by Noble Century and 20% of which shall be held by Zhong Sui.
The JV is to act as a special vehicle to principally engage in electronic components trading business; and establish and hold the entire equity interest of one or more WFOEs in the PRC and principally engaged in electronic components trading business and the total investment and the registered capital of the WFOE(s) shall be HK$37.8 million.
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