Zhejiang Wazam New Materials to Reduce Capital in New Materials Fund
MT Newswires Live
Sep 24
Zhejiang Wazam New Materials (SHA:603186) will cut its subscribed contribution by 28 million yuan in new materials fund Hangzhou Fengzhou Fund.
The reduction stemmed from Hangzhou Fengzhou Fund's capital reduction to 15.2 million yuan from 50 million yuan, according to a Thursday filing with the Shanghai bourse.
Zhejiang Wazam New Materials' subscribed capital is now adjusted to 12 million yuan, accounting for 79.1% of the fund's total subscribed capital.
Shares of the advanced materials manufacturer were down 5% in recent trade.
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