GL events China to become a strategic investor in North Star Convention

China, 9th July: Hong Kong registered Chinese industrial conglomerate, North Star Company Limited, announced it has brought on board four new strategic investors, including GL events China, to strengthen the capital base of its convention and exhibition subsidiary, Beijing North Star Convention Group Co., Ltd. The three other investors are: Beijing Capital Tourism Group Co., Ltd., Beijing Shougang Construction Investment Co., Ltd. and Jingdong Technology Holding Co., Ltd.

The registered capital of North Star Convention Group will be raised from RMB 120 million (US$18.5 million) to RMB 200 million (US$30.8 million) after the completion of the deal. The parent company will own 60% while the four new investors will each hold 10%. The company will also be renamed as “Capital Convention (Group) Co., Ltd.”, and will remain as a subsidiary of the North Star Company.