Tibet Development Gets 182 Million Yuan Cash Assets From Parent
Tibet Development received cash assets of 182 million yuan from its controlling shareholder for free, according to a Shenzhen Stock Exchange disclosure on Jan. 27. The parent, Tibet Shengbang Holdings, donated the funds to reduce the Chinese alcohol product manufacturer's debt and fund its operations, the disclosure said. The company plans to reorganize, with its reorganization plan still subject to the approval of the court and relevant regulatory bodies. The company's share rose less than 2% in recent trade.
Tibet Development received cash assets of 182 million yuan from its controlling shareholder for free, according to a Shenzhen Stock Exchange disclosure on Jan. 27.
The parent, Tibet Shengbang Holdings, donated the funds to reduce the Chinese alcohol product manufacturer's debt and fund its operations, the disclosure said.
The company plans to reorganize, with its reorganization plan still subject to the approval of the court and relevant regulatory bodies.
The company's share rose less than 2% in recent trade.
