Origin has received RMB137.66 million from Beijing Changping Technology Innodevelop Group
Origin Agritech Limited (SEED)
US:NASDAQ Investor Relations:
originseed.investorroom.com
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Source: PR Newswire
BEIJING, April 15, 2020 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology and rural e-commerce company, today announced the Company has received RMB137.66 million from Beijing Changping Technology Innodevelop Group. Origin has entered a definitive framework agreement with Beijing Changping Technology Innodevelop Group (BC-TID) as announced earlier. Under this agreement, Origin and BC-TID will use Beijing Origin Seed Limited (Beijing Origin) as the target joint venture entity, The Company will contribute the Origin Life Science Center building in Beijing and two biotech corn traits to the joint venture and BC-TID will fund the joint venture with a total of RMB204 million. The Company will restructure Beijing Origin and transfer the unrelated assets to Beijing Origin State Harvest Biotechnology Limited, the wholly owned subsidy of the Company. BC-TID will then inject its cash investment into Beijing Origin to hold 51% of equity in
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- Origin Agritech Limited (NASDAQ: SEED) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat