share_log

Visionary Holdings Signs MOU With The Public Investment Fund Of Saudi Arabia, Investing $120M To Fully Support The Development Of Visionary's Various Industry Projects

Benzinga ·  Sep 12, 2024 13:42

On September 2, 2024, Visionary Holdings Inc. (NASDAQ:GV) officially signed a Memorandum of Understanding (MOU) with the world's largest sovereign wealth fund, the Public Investment Fund (PIF) of Saudi Arabia. The two parties have become close partners, with PIF investing USD 120 million to fully support the development of Visionary's various industry projects. This includes debt replacement for four of Visionary's commercial buildings (including debt replacement with the Bank of China) and the real estate redevelopment investment for these four buildings. PIF will continue to invest in Visionary in the future, providing strong financial, talent, and resource support for Visionary's global mergers and acquisitions, industrial upgrades, debt optimization, and rapid growth.

Additionally, both parties agreed to closely collaborate in the fields of high technology, life sciences, and artificial intelligence education. This includes, but not limited to, international education, biomedical sciences, advanced technology, life sciences, and AI education. The partnership with PIF not only enhances Visionary's brand but also offers a great opportunity for Visionary's future development, bringing significant momentum to the dual growth of Visionary's market value and industrial expansion.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
Comment Comment · Views 1202

Recommended

Write a comment