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Hangzhou GreatStar Industrial Co. Ltd. announced plans to buy a combined 1.54% equity stake in Zhejiang MYbank Co. Ltd. for approximately 325 million yuan (US$44.8 million), a strategic move aimed at strengthening the tool manufacturer’s supply chain finance and international e-commerce operations. According to a company regulatory filing, GreatStar will purchase a 0.86% stake in MYbank from Hangzhou Heboshi E-Commerce Co. Ltd. for 182 million yuan, and an additional 0.68% stake from Wanxiang Sannong Group Co. Ltd. for 143 million yuan. The transaction price is set at 3.20 yuan per share and will be funded entirely through GreatStar’s internal cash…
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