Asia
Xinjiang International Industry Boosts Unit's Capital by 400 Million Yuan
Xinjiang International Industry (SHE:000159) will increase capital in wholly-owned subsidiary Xinjiang Zhongyou Chemical Group by 400 million yuan through a debt-for-equity swap.Zhongyou Chemical's registered capital will rise to 900 million yuan from 500 million yuan, according to a Tuesday filing with the Shenzhen bourse.The move aims to optimize the subsidiary's asset-liability structure and support further business development.Shares of the oil and chemical products distributor closed 2% higher Tuesday.
SHE:000159
