First Tractor to Inject 86 Million Yuan into Sinomach Finance

MT Newswires Live

2024/11/13

First Tractor (HKG:0038, SHA:601038) agreed to inject 85.7 million yuan into Sinomach Finance for its capital increase plan, a Tuesday Hong Kong bourse filing said.

Simomach plans to increase its registered capital to 2.35 billion yuan from 1.75 billion yuan.

The company has a 14.286% shareholding in Sinomach, which will not change upon the completion of the capital increase.

The shares of the machinery products company closed nearly 3% higher on Wednesday.

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