Chengdu B-ray Media (SHA:600880) and controlling shareholder Chengdu Media Industry will jointly inject 30 million yuan into affiliate Chengdu Tianfu Film, according to a Wednesday after-hours filing with the Shanghai bourse.
The listed company will contribute 12 million yuan to retain its 40% stake, while the controlling shareholder will contribute 18 million yuan to retain its 60% stake.
The raise will help Tianfu Film with business and project development, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.