Binhai Investment Boosts Stake in Sinopec LNG

Binhai Investment Co (DE:WS7A) has released an update.

Binhai Investment (Tianjin), a subsidiary of Binhai Investment Co, has agreed to a capital increase for Sinopec LNG, contributing RMB8 million to raise the registered capital alongside Sinopec Natural Gas, which is contributing RMB39.2 million. The deal maintains their respective 2% and 98% equity stakes and is part of a move to fund the construction and expansion of Sinopec LNG’s operations. This transaction is classified as a connected transaction under the Listing Rules, requiring reporting and announcement but exempt from circular and independent shareholders’ approval.

For further insights into DE:WS7A stock, check out TipRanks’ Stock Analysis page.