Sichuan Expressway (SHA:601107, HKG:0107) plans to raise the capital of construction subsidiary Sichuan Suiguang Suixi Expressway by 3 billion yuan through a debt-for-equity swap agreement, according to a Shanghai Stock Exchange filing on Nov. 29.
The Chinese highway operator agreed to convert its 3 billion yuan debt to Suiguang Suixi into shares.
After the completion of the transaction, Suiguang Suixi's registered capital will rise to 6.57 billion yuan from 3.57 billion yuan, the filing said.
Sichuan Expressway's Hong Kong Shares rose more than 1% in recent trade.
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