Changsha Tongcheng (SHE:000419) and Bank of Changsha (SHA:601577) will jointly boost the capital of Hunan Changyin 58 Consumer Finance by not more than 150 million yuan, according to a filing with the Shenzhen Stock Exchange lodged Tuesday.
Hunan Changyin 58 Consumer Finance, a consumer finance company, is a subsidiary of Changsha Tongcheng.
Following the capital increase, the registered capital of Changyin 58 Consumer Finance will rise to 1.12 billion yuan from 900 million yuan, the filing said.
Changyin 58 Consumer Finance will hold 56.66% of Bank of Changsha, the filing said.
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