SINGAPORE (Nov 1): Real estate investment group Imperium Crown on Tuesday announced it is acquiring a 30% stake each in two subsidiaries of Shandong Yinguang Chemical Industry Co. (Yinguang Group) for combined S$5.0 million. Yinguang Group holds real estate assets related to the cultural, media, art assets and businesses within the film industry in China’s Shandong province. “We are excited about gaining exposure to the Chinese film market,” says Imperium Crown’s Executive Chairman and Chief Executive Officer Wan Jinn Woei. Imperium Crown says the proposed acquisitions are not expected to have material impact on its net tangible assets or earnings per share for the current financial year. Imperium Crown last closed at 7 Singaporean cents on Monday.

Source: The Edge Markets November 01, 2016 05:10 UTC