KuangChi Science (00439) said it has conditionally agreed to subscribe 41.96 million new Zhejiang Longsheng Automotive shares for RMB300 million.
The shares represent 13.95% of the existing issued share capital of Longsheng, or 3.21% of the enlarged issued share capital.
Longsheng is principally engaged in manufacturing and sale of automotive interior parts and automotive parts. The Longsheng shares are listed on the Shenzhen Stock Exchange (stock code: 002625).
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