Hygon Information Technology (SHA:688041) proposed to raise the capital of a subsidiary by up to 114.7 million yuan, according to a Wednesday filing with the Shanghai bourse.
The capital increase will be implemented jointly with related party Sugon Information Industry. The subsidiary was not named in the disclosure to protect trade secrets, the fabless semiconductor company said.
The company will subscribe to 55 million yuan worth of newly increased registered capital through the transaction. Following the capital injection, Hygon's stake in the subsidiary will fall to 25% from 27.4%.
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