JWEL - Jowell Global stock soars 10% amid announcement to acquire equity stake in loan provider
Jowell Global's (NASDAQ:JWEL) variable interest entity Shanghai Juhao Information Technology is acquiring 18.96% equity interest in Suzhou Industrial Park Hongrun Rural Small Amount Loan Co. for RMB30M. China-based Hongrun provides loans to agriculture, rural areas and farmers, and acts as agent for financial institutions. The investment will be used for loans to the owners of Juhao Best Choice Stores — community group-buying franchise stores launched by Shanghai Juhao in April — for their business development and expansion. “The acquisition announced today is a clear indication of the company’s continuous capabilities in executing long-term growth strategies and evidence of continued efforts in expanding Juhao Best Choice Stores across China," said Jowell Global Chairman and CEO Zhiwei Xu. JWEL +9.41% premarket to $5.58 Source: Press Release
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Jowell Global stock soars 10% amid announcement to acquire equity stake in loan provider