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Guangdong Yueyun Transportation Co., Ltd. Class H ( (HK:3399) ) has shared an announcement.
Guangdong Yueyun Transportation has agreed to sell its 51% stake in subsidiary Foshan Yueyun to Foshan Yingrui for RMB58.24 million, following a public listing and bidding process on the Guangdong United Assets and Equity Exchange. Upon completion, Yueyun will fully exit Foshan Yueyun, which will no longer be consolidated into the group’s financial statements, slightly reshaping the company’s asset mix and operational footprint.
The transaction qualifies as a discloseable transaction under Hong Kong Listing Rules, as applicable percentage ratios exceed 5% but remain below 25%, triggering reporting and announcement obligations but not shareholder approval. The final price was set about 10% below the initial reserve after the first listing failed to attract qualified buyers, and the board considers the reduced yet market-tested valuation fair and in the interests of the company and its shareholders.
More about Guangdong Yueyun Transportation Co., Ltd. Class H
Guangdong Yueyun Transportation Company Limited is a PRC-based joint stock company listed in Hong Kong that operates in the transportation and logistics sector. The group focuses on providing passenger and related transport services across Guangdong province, positioning itself as part of the region’s broader mobility and infrastructure network.
Average Trading Volume: 229,036
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.14B
Find detailed analytics on 3399 stock on TipRanks’ Stock Analysis page.