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Yuanta Futures to inject capital into Hong Kong unit

Yuanta Futures (Hong Kong) Co. Ltd. plans to increase its capital by US$10 million in 2017 through the issuance of new shares.

The company will issue 10,000,000 shares at US$1 each to parent Yuanta Futures Co. Ltd., according to a March 30 release.

Proceeds from the issuance will be used to increase the working capital of Yuanta Futures (Hong Kong) and to meet business development needs.

The issuance is subject to regulatory and shareholder approvals.

Yuanta Financial Holdings Co. Ltd. is the parent company of Yuanta Futures.