China International Marine Containers (SHE:000039) subsidiary CIMC Capital Holdings will invest 29% in an industry fund, according to a Saturday filing with the Shenzhen bourse.
The subsidiary will invest 290 million yuan in the Jiangsu Provincial Marine Economy Industry Sub-Fund, which will have a capital of 1 billion yuan.
Shares fell 5% during afternoon trading on Monday.
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.