Grace Fabric Technology to Raise Subsidiary's Capital by 300 Million Yuan
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(MT Newswires) -- Grace Fabric Technology (SHA:603256) plans to increase the capital of its wholly owned glass fiber-making unit, Huangshi Honghe Electronic Materials Technology, through a debt-to-equity swap worth 300 million yuan, according to a Shanghai bourse filing on Saturday. The Chinese glass fabric products' shares jumped less than 4% at the close of Monday's shares. After the transaction, Huangshi Honghe's capital will rise to 1 billion yuan from 700 million yuan.
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