Western Securities Taps Related Party for Office Renovation, Data Center Construction

MT Newswires Live

04/02

Western Securities (SHE:002673) agreed to entrust related party Shaanxi Jintai Hengye Real Estate for the renovation of its Chanba office and construction of its data center, according to a Shenzhen bourse filing on Thursday.

Jintai Hengye is a subsidiary of the company's controlling shareholder, Shaanxi Investment Group.

The office renovation works will cost 146.6 million yuan, while the data center construction will amount to 68.7 million yuan.

The securities services provider's shares dropped over 2% during morning trade.

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