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Jiangsu Fasten Plans to Issue 125 Million Shares
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Jiangsu Fasten plans to issue up to 125 million A shares to its controlling shareholder, Hongsheng Group. The move will increase Hongsheng Group's stake to 43.62% from 26.82%, according to a Wednesday filing with the Shenzhen bourse. Following the issuance, Zhou Jiang, Deng Feng, Miao Qin and Huang Xiang remain the wire rope manufacturer's controllers.
Jiangsu Fasten plans to issue up to 125 million A shares to its controlling shareholder, Hongsheng Group.
The move will increase Hongsheng Group's stake to 43.62% from 26.82%, according to a Wednesday filing with the Shenzhen bourse.
Following the issuance, Zhou Jiang, Deng Feng, Miao Qin and Huang Xiang remain the wire rope manufacturer's controllers.
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