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Suzhou Kingswood Education Technology to Set Up Investment Holding Subsidiary

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Suzhou Kingswood Education Technology (SHE:300192) will set up a wholly-owned subsidiary in Hong Kong for HK$100 million, according to a Tuesday after-hours filing with the Shenzhen bourse.

The new entity, to be called FCICH Holdings, will then establish its own subsidiary, which will then be named FCIC Investment, the filing said.

The investment for the second-level subsidiary is HK$10 million.

FCIC Investment will handle investment holding and management, as well as management consulting, among others.

Shares rose 8% during the close of trading on Wednesday.

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