Zijin Mining (02899) said it entered into a capital increase agreement for the capital increase of Fujian Shanghang Xingcheng Guarantee Co., Ltd.
Zijin Mining will inject capital of Rmb50 million to Xingcheng Guarantee for a 20% equity interest in Xingcheng Guarantee. Minxi Xinghang, a substantial shareholder of Zijin Mining, will inject capital of Rmb100 million for a 71.88% equity interest.
Xingcheng Guarantee is principally engaged in guarantee business within the PRC including loan guarantees, bill acceptance guarantees, trade financing guarantees, project financing guarantees, letters of credit guarantees, and other financing guarantee business as approved by laws and regulations.
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