Hengtong Optic-Electric (SHA:600487) plans to raise its holdings in joint venture Jiangsu Hengtong Huahai Technology for 605.8 million yuan, according to a Sept. 28 disclosure.
The fiber optic cable manufacturer will acquire 7.8% of Hengtong Huahai from one of its venture partners, Xiamen Yuanfeng Rongxin Equity Investment Partnership (Limited Partnership).
After the transaction, Hengtong Optic-Electric's stake in Hengtong Huahai will increase to 72.1% from 64.3%.
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