Yankuang Energy Group (HKG:1171, SHA:600188) said WindSun Science & Technology (SHA:688663) has agreed to invest 55.9 million yuan in its indirect subsidiary Yanzhou Dongfang Electrical by subscribing for the additional registered capital of the target, a Friday bourse filing said.
The capital increase will see 50 million yuan out of the total investment included in the paid-up capital while the remaining will be included in the capital reserve.
After the completion, Yanzhou Dongfang Electrical will be owned 50% by the investor and 47.2% by Yankuang Donghua Heavy Industry, a subsidiary of the company, and will cease to be a subsidiary of the company.
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