WINSOR Industrial Corporation (WICL), a textile marketing company, has formed a joint venture with a mainland company to facilitate listings on the mainland and overseas.
The joint venture is the second linking WICL with Zhangjiagang Free Trade Zone Development General Corp.
Zhangjiagang is situated on Changjiang River Delta in Jiangsu province.
Total investment in the new venture was US$30 million, with WICL taking 51 per cent, said C Y Kwok, a spokesman for WICL.
The joint venture would be a fund-raiser for development of the Zhangjiagang Free Trade Zone, and act as an agent for registration of enterprises in the zone, said Mr Kwok.
He held trade discussions in Hong Kong yesterday with Hu Jianpeng, mayor of the Zhangjiagang People's Government.
Mr Hu said the joint company planned to seek A share and B share listings after three years. Applications were in progress.