First Tractor (SHA:601038, HKG:0038) said its board on Jan. 15 approved the change in its company type, according to a Thursday filing with the Shanghai bourse.
The proposed change will change the agricultural and power machinery maker's enterprise type to "jointly-stocked company (Hong Kong, Macao and Taiwan investment, listed)" from "jointly-stocked company (Taiwan, Hong Kong, Macao and domestic joint venture, listed)."
Shares of First tractor rose 2% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.