Manila Electric Co. (PSE:MER) unit Paragon Vertical will sell its 65.1% stake in Radius Telecoms to PLDT (PSE:TEL) for about PHP 2.9 billion pesos.
The deal will give PLDT full ownership of Radius once all closing conditions and regulatory approvals are completed.
Upon completion, Radius will cease to be a Meralco subsidiary and will become a wholly owned unit of PLDT, the filing said.
Zhejiang Yongtai Technology (SHE:002326) provided a guarantee with a principal amount of 100 million yuan to its subsidiary, Inner Mongolia Yongtai Chemical, according to a Shenzhen bourse filing on Friday.The guarantee will be for Inner Mongolia Yongtai's credit facility.The guarantee is part of the company's 2 billion yuan guarantee set aside for Inner Mongolia Yongtai for this year. The remaining guarantee for Innoer Mongolia Yongtai is now at 466.4 million yuan.The fluorine fine chemicals manufacturer's shares slipped 1% during the afternoon trade.
Jiangsu Etern (SHA:600105) experienced abnormal stock fluctuations for three consecutive trading days, but the company said its operations were normal, according to a Shanghai bourse filing on Friday.The company's closing stock price rose more than 20% between June 2 and 4, exceeding the bourse's threshold.The company's probe found that it does not have any material changes or significant disclosure that could affect the share price.The Chinese telecommunication cable and wire manufacturer's shares rose 3% during the afternoon trade.
Tongding Interconnection Information (SHE:002491) completed the registration for two new companies in Shaoguan's Qujiang District in Guangdong, China.Tongding Optical Shaoguan, with 800 million yuan in registered capital, and Tongding Information Communication Shaoguan, with 100 million yuan in capital, will produce 600 tons of fiber preform and 20 million core-kilometers of optical fiber annually, according to a Friday filing with the Shenzhen bourse.Shares of the industrial automation equipment manufacturer closed 5% in recent trade.