Dawning Information Industry (SHA:603019), also known as Sugon, proposed to raise the capital of a subsidiary by up to 114.7 million yuan, according to a Shanghai bourse filing on Wednesday.
The capital increase will be implemented jointly with Hygon Information Technology (SHA:688041).
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 rise to 25% from 27.4%.
Both Sugon's and Hygon's shares rose 2% during the morning trade.
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