CCTD plans to increase capital by 2.38 billion yuan

China State Shipbuilding Corporation announced that the company plans to increase capital by RMB 2.38 billion to CSSC Cruise Technology Development (CCTD).
 
Shanghai Waigaoqiao Shipbuilding, a wholly-owned subsidiary of the company, and Guangzhou Shipyard International, a holding subsidiary of the company, intend to give up the right to increase their capital in the same proportion.
 
After the completion of this transaction, the subscribed registered capital of CCTD will increase from RMB 2.35 billion to RMB 4.73 billion, the shareholding ratio of CSSC in CCTD will be 91.94%, and the shareholding ratio of Waigaoqiao in CCTD will be reduced from 16.28% to 7.13%, the shareholding ratio of Guangzhou Shipyard International in CCTD decreased from 0.71% to 0.31%.
 
Source: Sarah Yu, XINDE MARINE NEWS

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.