Swancor Advanced Materials to Provide Up to 200 Million Yuan of Guarantees

MT Newswires Live

08/17

Swancor Advanced Materials (SHA:688585) will provide up to 200 million yuan in guarantees to support two subsidiaries, according to a Monday filing with the Shanghai bourse.

The listed advanced materials manufacturer will provide a guarantee of up to 150 million yuan to Qiyuan Innovation (Shanghai) Technology and 50 million yuan to Qiyuan Innovation (Beijing) Technology.

The guarantees will help secure credit lines to help meet operational and business development needs.

Shares rose nearly 1% during the midday break on Monday.

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