CITIC Guoan Information Industry (SHE:000839) plans to inject equity from five broadband subsidiaries into CBN Hunan as part of Hunan's cable TV network consolidation, according to a Friday filing with the Shenzhen bourse.
The 278.2-million-yuan transaction will grant the computer network infrastructure and information service provider a 5.29% stake in CBN Hunan, while it relinquishes direct ownership of the five entities.
Shares of the company rose 1% in recent trade.
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