Asia
Safety Godown Takes 30% Stake in Property JV for HK$65 Million
Safety Godown Company (HKG:0237) has taken a 30% stake in a portfolio of properties owned by Double Glory Ventures as part of a new joint venture for nearly HK$65 million, according to a Wednesday filing with the Hong Kong bourse.The company said it will perform renovation works at the properties with its JV partner and will pay for the stake in three tranches, including a deposit of HK$13 million.Safety Godown will receive 30 sponsor ordinary shares in the company directly holding the properties reflecting its 30% stake in the joint venture.
HKG:0237
