Far East Smarter Energy's (SHA:600869) board has approved a 300 million yuan financial guarantee for its wholly-owned subsidiary, Far East Cable, to support credit facilities provided by the Wuxi Branch of Bohai Bank.
Far East Cable will use the credit support to fund ongoing production and operational capital requirements, according to a Shanghai bourse filing on Tuesday.
The digital city services provider's shares rose nearly 3% Tuesday afternoon.
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