Kingfa Science & Technology to Waive Priority Subscription Rights Over Subsidiary Amid Capital Raise

MT Newswires Live

Nov 25, 2024

Kingfa Science & Technology (SHA:600143), through subsidiary Shanghai Jinfa Technology Development, agreed to waive its priority subscription rights to Zhuhai Wantong Special Engineering Plastics as the latter seeks new investors, according to a Shanghai Stock Exchange filing on Monday.

Jinshi Manufacturing Transformation and Upgrading New Materials Fund (Limited Partnership) will subscribe to Wantong Special Engineering Plastics as a new shareholder.

Jinshi Manufacturing will subscribe Wantong's new shares worth 191.6 million yuan for 26.09 yuan per 1 yuan of registered capital, with a subscription price of 500 million yuan.

The Chinese plastic products and new chemicals manufacturer's control over Wantong will not change after waiving its priority subscription rights, the filing said.

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Technology (SHA:600143), through subsidiary Shanghai Jinfa Technology Development, agreed to waive its priority subscription rights to Zhuhai Wantong Special Engineering Plastics as the latter seeks new investors, according to a Shanghai Stock Exchange filing on Monday.</p><p>Jinshi Manufacturing Transformation and Upgrading New Materials Fund (Limited Partnership) will subscribe to Wantong Special Engineering Plastics as a new shareholder.</p><p>Jinshi Manufacturing will subscribe Wantong's new shares worth 191.6 million yuan for 26.09 yuan per 1 yuan of registered capital, with a subscription price of 500 million yuan.</p><p>The Chinese plastic products and new chemicals manufacturer's control over Wantong will not change after waiving its priority subscription rights, the filing said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0028","symbol_name":"国家队","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2486261067","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486261067","pubTimestamp":1732508189,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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