Cosmos Machinery (HKG:0118) said its associate, Shenzhen Haoningda Meters, will commence trading on the Shenzhen Stock Exchange tomorrow.
The associate issued 20 million A shares at RMB36.5 apiece, raising net proceeds of RMB687 million. After the listing of the associate, Cosmos Machinery still holds 51 million shares in the associate through its associate company, Hon Kiu Machine Factory Limited which is 49.40% owned by the company.
