GreenTree Closed Investment in HKSE IPO of Gingko Education
GreenTree Hospitality Group Ltd. American depositary shares, each representing one Class A ordinary share (GHG)
Last greentree hospitality group ltd. american depositary shares, each representing one class a ordinary share earnings: 4/14 07:51 am
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Source: PR Newswire
SHANGHAI, Jan. 18, 2019 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree" or the "Company"), a leading franchised hotel operator in China, today announced that it has closed a HK$40 million investment to acquire 27,776,000 ordinary shares in the Hong Kong Stock Exchange ("HKSE") initial public offering of China Gingko Education Group Company Limited ("Gingko"). Gingko is a pioneer in developing and providing higher education services for the hospitality industry in China. Gingko was founded in 2002 by Mr. Gongyu Fang, a visionary entrepreneur in this field. With nearly 10,000 students on campus, Gingko is currently ranked as China's number one hospitality university by the "Gaosan Web Association", an authoritative website with introductions to and rankings of universities in China.Mr. Fang, Chairman and CEO of Gingko, welcomed GreenTree's investment. "We are pleased to have GreenTree as our investor. This transaction is part of both companies' larger plan to c
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