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Shenzhen Sunlord Electronics Grandchild Company to Raise Capital by 40.5 Million Yuan

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Shenzhen Sunlord Electronics (SHE:002138) grandchild company Shanghai Shunrongxing will raise registered capital by 40.5 million yuan through an employee stock ownership platform.

The capital increase price of 1.04 per yuan per registered capital is based on an appraised equity value of 52 million yuan, according to a Friday filing with the Shenzhen bourse.

Shanghai Sunlord will contribute up to 31.2 million yuan for 30 million yuan of new capital, while Shunyu Technology and a core employee platform will subscribe for about 2.3 million yuan and 8.3 million yuan, respectively.

Shares of the electronic transformer producer were down 2% in recent trade.

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