China Datang Corporation Renewable Power (01798) said it agreed to establish a joint venture company with controlling shareholder China Datang Corporation.
The registered capital of JV amounts to US$10 million, to which Datang Renewable Power will contribute US$1.5 million, representing 15% of the registered capital; Datang will contribute US$8.5 million, representing 85% of the registered capital.
The JV will be engaged in international trade, management of and services for companies listed in Hong Kong which are held by Datang, financing services, capital operation, information exchange and other businesses to be operated with the authorisation of the Board.
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