Tus Holdings to make a large investment in PEN Concept Group AB
The descion is planned to be made at the annual shareholder meeting where Tus Holding is planning to invest 20 million SEK in PEN Concept Group AB. The investment is planned to be made through their investment company Ningbo Tus- Yangmin.
”TUS Holding wants to support the existing business of Pen Concept Group AB’s and with special focus on interior. The purpose is to support the growth in the Nordic countries and to help the company to grow also with acquisitions.
Tus Holding as a large scale of assets in properties all over China which also gives possibilities for PEN to establish in the Chinese domestic market.
Tus has also made hundreds of investments in China"
A directed new issue together with a requirement from Tus of choosing two new board members from Tus is plannned to be decided at the annual shareholder meeting.
A presentation of those will be sent together with the invitation to the annual shareholder meeting.
Introduction to Tus-Holdings and Ningbo Tus-Yangming Investment Center (LP)
Ningbo Tus-Yangming Investment Center (“the fund” for short) is a fund affiliated to Tus-Holdings. The fund is an equity investment fund, with focused industries in intelligent manufacturing, industrial design, new material and general aviation.
Tus-Holdings is a large integrated enterprise established in reliance on Tsinghua University and one of the largest and significant technology service platforms in China. As its flagship product, TusPark (Beijing) is the largest single university science park in the world. After two decades’ efforts, Tus-Holdings has successfully built up a nationwide innovation system by building and operating more than 160 incubators, science parks and science cities. The network covers more than 50 regions. Tus-Holdings’ total asset under management has been around 160 billion RMB in 2016. It is the main shareholder of over 500 enterprises, including several listed companies, such as Tus-Design Group(SZ:300500).
Information or questions regarding the press release and the company, please contact:
Annica Lind Nordberg, CEO
Telefon: 036-36 17 82
This is information that PEN Concept Group AB is obliged to make publish according to EU:s market abuse regulation. The informaiton was sent from the above contact person to be made public on the 7th of April 2017.
Short about the PEN Concept Group
PEN Concept Group is a complete supplier of interiors for retail, fairs, events and restaurants and Showrooms. Teh group has all resources to be able to offer the customers interiors from both special solutions as wells as standardized products that are produces at large scale. The comapny is workign through the daughter companies Pen Interiör i Jönköping, Goods in Växjö and PEN Shop Concept in Lerum. Production of shelving systems are mainly manufactured in the chinese daughter company Oboya Shop Concept Qingdao Ltd.