Jilin Yatai to inject RMB1.13b into Hainan Longhigh for 51% stake
Jilin Yatai Group (600881) filed it will inject 1.13 billion yuan into Hainan Longhigh Group Investment Holding for a 51-percent stake in the company, reports Shanghai Securities News.
Some 520 million yuan of the total will be consolidated into paid-in capital of Longhigh Investment and the rest 609 million yuan into surplus reserves. Longhigh Investment’s registered capital will be boosted to 1.02 billion yuan. Yatai Group and Longhigh Group will respectively hold 51-percent and 49-percent stakes in Longhigh Investment.
Longhigh Investment, which is based in Sanya city, is wholly controlled by Hainan Longhigh Group Corporation.
At present, Longhigh Investment controls 12 subsidiaries and one affiliate which is involved in tourism real estate development and land consolidation projects.
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