Eswin Materials Subsidiary Seeks 6.5 Billion Yuan Capital Injection
Xi'an Eswin Materials Technology (SHA:688783) subsidiary Wuhan Eswin Material Technology is seeking a capital injection of up to 6.5 billion yuan from new investors, according to a Friday filing with the Shanghai bourse.The listed company will inject 1 billion yuan in cash, while the other investors will contribute the remaining 5.5 billion yuan, the filing said.Wuhan Eswin will then contribute 6.5 billion yuan into Eswin Silicon Wafer Technology.Following the capital injection, the listed company's stake in the Wuhan unit will fall to 20% to 30% from 100%.Shares rose 2% during Friday morning trading.