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Liaoning Fu-An Heavy Industry Puts 6 Million Yuan into Investment JV

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Liaoning Fu-An Heavy Industry (SHA:603315) agreed to invest 6 million yuan for a 60% stake in a new investment company formed with two directors and two external investors.

Fu'an Investment Shenzhen, with registered capital of 10 million yuan, will engage in investment activities, asset management, venture capital and consulting services, according to a Tuesday filing with the Shanghai bourse.

The company's vice chair and deputy general manager are each contributing 1 million yuan for 10% stakes.

Shares of the large steel castings manufacturer closed less than 1% lower.

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