Asia
Baobian Electric Subsidiary Receives Capital Injection from China XD in Exchange for 30% Stake
Baoding Tianwei Baobian Electric (SHA:600550) subsidiary Baoding Tianwei Wire Rod Manufacturing plans to boost its capital and introduce two investors, according to a Saturday filing with the Shanghai bourse.China XD Electric (SHA:601179) and China Electric Equipment Group Investment will each invest 155.1 million yuan in exchange for a 30% stake each, the filing said.The company waived its right to subscribe to the capital increase, it said.Following the capital injection, Baobian's stake will reduce to 40% from 100%.Shares closed 3% lower on Monday.
SHA:600550SHA:601179