China Longyuan Power Completes Significant Equity Sale

China Longyuan Power Group (HK:0916) has released an update.

China Longyuan Power Group Corporation Limited has successfully concluded the disposal of its 27% equity interest in Jiangyin Sulong to Jiangyin Power for RMB 1.32 billion, following a public tender process. This divestiture means Jiangyin Sulong will no longer be part of the company’s consolidated financial statements nor remain a subsidiary. The transaction is considered a discloseable and connected transaction, compliant with listing rules and exempt from independent shareholders’ approval.

For further insights into HK:0916 stock, check out TipRanks’ Stock Analysis page.