Guangxi Liugong Machinery (SHE:000528) subsidiary Zhongheng Leasing received a "no objection letter" from the Shanghai bourse for the listing and transfer of asset-backed securities (ABS) under its Special Plan No. 3 (Series 1-6).
The plan allows for the issue of up to 3 billion yuan in non-renewable asset-backed securities, with the first tranche to be completed within 12 months, according to a Friday filing with the Shenzhen bourse.
The approval is valid for 24 months.
Shares of the construction machinery manufacturer rose 1% in recent trade.
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