China Railway Construction Corp. (1186) will inject as much as 4 billion yuan of capital into the subway operator in the northeastern Chinese city of Changchun as part of a “build and transfer” project.
CRCC will make the investment in three phases over as much as two years, it said in a statement to the Hong Kong Stock Exchange yesterday. The company’s stake will remain below 20 percent and later be repurchased by subway operator, according to the statement.
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