SHIFANG HLDG (01831) underweights Yunnan Handing, cashing in RMB30M
SHIFANG HLDG (01831) announced to sell 18.5% stakes in Yunnan Handing at a consideration of RMB30.54 million in order to realize part of its investment. The gross book gain from the disposal is expected to be RMB11.96 million. The proceed from the disposal will be used for additional working capital.
Upon completion of the disposal, SHIFANG HLDG's shareholding in Yunnan Handing will fall to 15%. Yunnan Handing is mainly engaged in project investment and management. (y)
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