Asia
Pylon Technologies Proposes to Raise Transaction Amount With Wendian New Energy
Pylon Technologies (SHA:688063) proposed to raise the amount of its expected transactions for the year with its subsidiary, Shanghai Wendian New Energy, after conducting a capital increase transaction, according to a Wednesday disclosure on the Shanghai bourse.The estimated amount for the year is 93.1 million yuan.Wendian New Energy will remain as the company's related party although it will no longer be included in its consolidated financial statements after the capital increase.The Chinese battery raw materials maker waived its right to participate in the capital increase, which will turn Wendian New Energy into an equity-accounted investee from a controlled sub-subsidiary of the company.The company's shares rose 2% at the close.
SHA:688063
