JoulWatt Technology Fund Boosts Capital, Acquires Stake in Subsidiary
MT Newswires Live
Feb 12
JoulWatt Technology's (SHA:688141) invested fund, Nanying Green Technology Venture Capital Partnership, or the Nanjing Fund, looks to add 26.8 million yuan of capital in subsidiary Hangzhou Lingxin Microelectronics, according to a Thursday disclosure to the Shanghai bourse.
Following the capital increase, the listed company will have a 10.85% stake in Lingxin Microelectronics.
The Nanjing Fund will also invest 33.2 million yuan in exchange for a combined 2.86% stake in Lingxin Micro from Ningbo Caozhixing Youkai Venture Capital Partnership and Ningbo Caozhixing Daoliu Venture Capital Partnership.
Following the transaction, Nanjing Fund will hold 13.4% of Lingxin, the filing said.
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