Hi-P International, Rompa ink HK$500 JV deal

It will deal with consumer electronics packaging.

Hi-P International announced that its subsidiary, Hi-P Holdings, has clinched a joint venture deal with Rompa (Hong Kong) Limited to undertake the business of providing packaging solutions to the consumer electronics industry.

According to Hi-P International’s announcement, Rompa has incorporated RH Packaging Group in connection to the proposed JV. Meanwhile, Hi-P Holdings subscribed for 500 new ordinary shares in RH Packaging’s capital for an aggregate subscription price of HK$500. Following this, Hi-P Holdings and Rompa will each hold 50% of the share capital of RH Packaging.

Hi-P International stated that it does not expect the JV or the subscription of shares to materially impact its net tangible assets per share and earnings per share for the current financial year.