Jiangsu Etern to Cut Stake in Unit Through Debt-to-Equity Swap

MT Newswires Live2025-07-02

Jiangsu Etern (SHA:600105) expects its holdings in subsidiary, Dongbu Superconducting Technology (Suzhou), to be reduced through a debt-to-equity swap agreement, according to a Shanghai bourse filing on Wednesday.

The deal will be signed with Industrial Guoxin Asset Management.

Under the deal, Industrial Guoxin AM will convert 12 million yuan out of its 30 million convertible loan to Dongbu Superconducting, adding 1.2 million yuan to its registered capital and 10.8 million to capital reserves.

A designated affiliate of Industrial Guoxin AM, Suzhou Fuying Superconducting Equity Investment Partnership (Limited Partnership), will directly own 1.9% of Dongbu Superconducting after the transaction.

The Chinese fiber optic cable manufacturer's directly owned stake in Dongbu Superconducting will be trimmed to 59.8% from almost 61%. The company's subsidiary, Suzhou Yongding Investment, will also see its stake in Dongbu Superconducting reduced to 6.4% from 6.5%.

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