Jiayou International Logistics (SHA:603871) unit China-Africa International Logistics Investment will issue 3 million preferred shares at 100 yuan each to China-Africa Development Fund.
The issuance comes after Jiayou's board of directors approved the subscription.
The total subscription amount is 300 million yuan, according to a Friday filing with the Shanghai Stock Exchange.
Shares closed 2% higher on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.