On June 1, Wanrun New Energy announced that it plans to invest a total of Yuan 180 million in its investee company, Wanrun Phosphate Chemical, together with Guizhou Phosphorus Chemical Group through a pro-rata capital increase, of which the company will contribute Yuan 88.2 million.
Upon completion of the capital increase, the registered capital of Wanrun Phosphate Chemical will be raised from Yuan 100 million to 280 million, while the company's shareholding ratio will remain at 49%. The proceeds from the capital increase will be used for Wanrun Phosphate Chemical to acquire the equity interests in three project companies held by Phosphorus Chemical Group, thereby establishing an industrial layout integrating "phosphate, titanium, iron, and LFP." This transaction constitutes a related-party transaction but does not constitute a major asset reconstruction.
Edited by Cassie Li, lixiangying@mysteel.com
