Puyang Refractories Group (SHE:002225) acquired an additional 15.3% in Xinjiang Qinxiang Technology for 10 million yuan, according to a Shenzhen bourse filing on Friday.
The magnesite miner's stake was acquired from Hejing County Hope Investment (Group).
After the completion of the transaction, the Chinese refractory products producer's stake in Qinxiang Tech rose to 52.5% from 67.8%.
Puyang's shares rose over 2% at the close.
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