Far Eastern New Century and Subsidiaries Announce Board Resolution for Cash Capital Increase and Reinvestments
📋 Article Processing Timeline
- 📰 Published: May 13, 2026 at 09:00
- 🔍 Collected: May 14, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 15, 2026 at 21:22 (37h 22m after Collected)
Far Eastern New Century Corporation (FENC) announced that its Board of Directors has resolved to participate in a cash capital increase for its 100%-owned subsidiary, Far Eastern Investment (Holding) Limited (FEIH), with an investment of USD 15,000,000. FEIH will subsequently reinvest USD 15,000,000 in APG Polytech USA Holdings, Inc. Finally, an investment of USD 18,561,668 will be made into the joint venture Corpus Christi Polymers, LLC. The primary purpose of this multi-layered transaction is to support the funding requirements of the US joint venture.