Asia
China Risun Unit to Receive 495 Million Yuan Capital Injection; Shares Down 4%
China Risun (HKG:1907) said Guozhi Qixu Fund will inject 495 million yuan into subsidiary Hebei Risun Energy, according to a Friday Hong Kong bourse filing.Upon completion, Guozhi Qixu Fund will hold a 7.6% stake in Hebei Risun Energy, while China Risun's interest will be diluted to 86.7% from 93.8%.Hebei Risun Energy will remain a subsidiary, and its financial results will continue to be consolidated.China Risun said the proceeds will be used to strengthen Hebei Risun Energy's working capital, repay borrowings related to its core business, and fund construction and operations.Shares of the firm were down over 4% in Monday's late-morning trade.
HKG:1907
