Jiangsu Expressway Co (HK:0177) has released an update.
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Jiangsu Expressway Company Limited has announced a capital increase in its subsidiary, Guangjing Xicheng Company, through a pro rata contribution of RMB1,360,000,000. This transaction involves China Merchants Expressway, the second-largest shareholder, and results in Jiangsu Expressway holding an 85% stake in Guangjing Xicheng. The move is considered a related party transaction under stock exchange rules but does not require independent shareholder approval.
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