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Edition eyes financial services-related business in China

EDITION Ltd, formerly known as Oniontech Limited, said on Monday that it has entered into a non-binding memorandum of understanding (MOU) with an independent third party to engage in financial services-related business in China.

Under the terms of the MOU, the Singapore joint venture company will hold a 51 per cent stake in the JV and the remaining 49 per cent will be held by the partner.

The MOU is subject to certain conditions including shareholders' approval and approvals from the relevant authorities.