Asia
HBIS to Invest 4.8 Billion Yuan to Boost Laoting Steel Unit
HBIS (SHE:000709) will inject 4.8 billion yuan in cash into controlled subsidiary HBIS Laoting Steel to supplement capital and optimize financial structure.The move will raise HBIS Laoting Steel's registered capital to 25.2 billion yuan, increasing HBIS' stake to 83.26% from 80.21%, according to a weekend filing with the Shenzhen bourse.Shares of the iron and steel maker closed 1% higher Monday.
SHE:000709