Shanghai Titan Scientific (SHA:688133) will invest 25 million yuan in testing subsidiary, MicroSource Testing, as part of a joint capital increase with Phase I Fund.
The funding injection will raise MicroSource Testing's registered capital to 50 million yuan, with Titan Scientific holding a 70% stake and the fund 30%, according to a Thursday filing with the Shanghai bourse.
MicroSource Testing aims to become an integrated biochemistry laboratory services provider, but has yet to begin operations.
Shares of Titan Scientific closed 1% higher Thursday.
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