Asia
Shanghai Tunnel Engineering Establishes 1.36 Billion-Yuan Asset-Backed Special Plan
Shanghai Tunnel Engineering (SHA:600820) has formally established its Guotai Haitong-Sheng Yuan factoring phase two supply chain asset-backed special plan.The plan, issued under a previously approved 3 billion-yuan shelf registration, raised 1.36 billion yuan, according to a Thursday filing with the Shanghai bourse.Proceeds will be used to repay shareholder loans and support business redeployment.Shares of the civil construction engineering company rose 1% in recent trade.
SHA:600820
