Shandong Ruyi picks majority stake in Bagir

Bagir has announced that Shandong Ruyi Technology Group will be investing 16.5 million dollars in the company to acquire 54 percent of Bagir’s enlarged issued share capital. The company added that Chinese textile major will be a majority shareholder in the company and one or more director(s) will be nominated by Shandong Ruyi Group to join the board of Bagir.