ShenZhen YUTO Packaging Technology (SHE:002831) will purchase an additional 34% stake in subsidiary Dongguan Huayan New Material Technology for 299.2 million yuan, according to a Thursday filing with the Shenzhen bourse.
Chairman and actual controller Wang Huajun sold 20% while Shenzhen Guandian Investment sold 14%, according to the filing.
Following the transaction, Yuto Packaging will hold 85% of Huayan, a new material technology research and development subsidiary.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.