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21 days ago
BRIEF-Konka Group to invest in industry fund and smart card firm, to sell stake in property unit
June 29, 2017 / 11:52 AM / 21 days ago

BRIEF-Konka Group to invest in industry fund and smart card firm, to sell stake in property unit

1 Min Read

June 29 (Reuters) - Konka Group Co Ltd

* Says it plans to invest up to 1.0 billion yuan ($147.48 million) to set up industry fund worth up to 5.0 billion yuan with partner

* Says it plans to buy 24 percent stake in smart card firm for 588 million yuan

* Says it plans to sell 49 percent stake in property unit for at least 2.9 billion yuan

Source text in Chinese: bit.ly/2tpcjw0; bit.ly/2u1AU82; bit.ly/2tswslH

Further company coverage: ($1 = 6.7805 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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