China State Construction Engineering's (SHA:601668) controlling shareholder, China State Construction Engineering Corporation, or CSCEG, proposed to apply for loan of up to 900 million yuan to raise holdings in the company, according to a Shanghai bourse filing on Saturday disclosure on the Shanghai bourse.
The engineering company's shares rose 1% during Monday's morning trade.
CSCEG reached an intention to cooperate with Industrial and Commercial Bank of China (SHA:601398, HKG:1398) for the loan.
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