Industrial machinery manufacturer LMW (NSE:LMW, BOM:500252) has completed the transaction for the acquisition of additional shares of its Dubai-based wholly-owned subsidiary LMW Holding, according to a Thursday filing to the Indian stock exchanges.
In May, the company received board approval to invest up to $30 million more in LMW Holding by acquiring 110,175 shares of 1,000 Emirati dirhams each.
The subsidiary plans to use the funds for its capital expenditure and working capital requirements.
Helens International (HKG:9869) said a Beijing court invalidated three Chinese trademarks owned by an indirect wholly owned subsidiary after overturning a lower court ruling in the company's favor, according to a Thursday Hong Kong bourse filing.The court ruled that the trademarks were similar to earlier-registered trademarks owned by third parties and, therefore, invalid under China's trademark law.Helens said it is seeking legal advice and will consider all available measures to protect its interests. The company added that the dispute has no material impact on its business, operations, or financial position.Hong Kong-listed shares of the bar operator were down over 5% in Friday morning trade.
Zhongguancun Science-Tech Leasing (HKG:1601) said it entered into two sale and leaseback agreements with Shandong Xuguo Energy, according to a Hong Kong bourse filing Thursday.In both deals, the company will separately acquire power generation facilities for 45 million yuan and lease them back to Shandong Xuguo Energy for 47 million yuan.The lease agreements will last for a year.
Serial Achieva (SGX:XHV) secured a co-location services contract in Malaysia, to provide data center capacity and related facilities to a local cloud services provider, according to a Thursday filing with the Singapore Exchange.The contract is valued at around 17.8 million ringgit and has a three-year initial term.Shares of the consumer and enterprise IT products company were up nearly 2% in Friday trading.