Greattown Holdings (SHA:600094, SHA:900940) partnered with Fuzhou New District Aviation City Development Investment to invest in a joint venture that will invest in the construction of a low-altitude intercity smart hub airport in China's Fuzhou New District, according to a Shanghai Stock Exchange filing on Wednesday.
The venture, Fujian Intercity Low-Altitude Airport Investment, has a registered capital of 100 million yuan.
The Chinese property developer will inject 66 million yuan into the venture, owning 66% of its shares. Fuzhou New District Aviation City Development Investment will own 34% after subscribing 34 million yuan for its capital.
Greattown's A shares slipped over 1% and B shares fell over 2% in recent trade.
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