Metallurgical Corp Secures Multi-Billion Yuan Investments

Metallurgical Corporation of China Ltd. Class H (HK:1618) has released an update.

Metallurgical Corporation of China Ltd. Class H has announced capital increase agreements with ICBC Investment and ABC Investment, totaling RMB2,713.33 million and RMB2,700.00 million respectively. The capital influx will not change the company’s control over its subsidiaries, although it will dilute its equity interest. These agreements are classified as discloseable transactions under Chapter 14 of the Listing Rules, requiring report and announcement but exempt from shareholders’ approval.

For further insights into HK:1618 stock, check out TipRanks’ Stock Analysis page.