The JV company has an initial issued and paid-up capital of $1 million comprising 2 million ordinary shares, with Primest Land, Ever Capital and Sunlit Venture Capital holding a 50%, 25% and 25% stake, respectively.
Ever Glory United Holdings’ wholly-owned subsidiary Ever Capital has entered into a joint venture (JV) agreement with Primest Land and Sunlit Venture Capital to purchase a piece of District 14 land through Primest Land V1, the JV company.
Primest Land V1, which is in the land purchase process for the development and construction of residential flats, will be engaged in the business of acquisition, development, marketing, holding, leasing, sale and disposal of the property.
