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Jiangsu Expressway Co ( (HK:0177) ) has provided an announcement.
Jiangsu Expressway Company Limited has approved a pro rata capital increase in its subsidiary, Wufengshan Toll Bridge Company, to address rising material costs and land acquisition adjustments in its North-South Road Connection Project. The capital increase will see Jiangsu Expressway contributing RMB108,517,200, increasing the registered capital of Wufengshan Toll Bridge Company to RMB4,994,593,800, with other shareholders participating proportionally. This move, classified as a connected transaction under Hong Kong Listing Rules, emphasizes Jiangsu Expressway’s strategic focus on enhancing its infrastructure capabilities amid changing economic conditions.
More about Jiangsu Expressway Co
Jiangsu Expressway Company Limited operates in the transportation infrastructure sector, primarily focusing on the development and management of expressways and related projects in China. The company is a significant player in the market, focusing on the construction and operation of toll roads, bridges, and related infrastructure.
YTD Price Performance: -3.64%
Average Trading Volume: 1,696
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $9.1B
See more data about 0177 stock on TipRanks’ Stock Analysis page.
