Fujian Cement Inc is to jointly invest with its second-largest shareholder, South Cement Co Ltd, a combined CNY950m (US$150m) into Fujian Cement's fully-owned cement subsidiary.

Its subsidiary will mainly use the funds to invest in its cement and related businesses.

After the capital injection the two investors will each hold a 50% stake in the target company, which will have a registered capital of CNY1bn. (Source: China Business Newswire).