Qingdao Holdings to Sell Majority Stake in Subsidiary

Qingdao Holdings International Limited (HK:0499) has released an update.

Qingdao Holdings International Limited announced the successful bid of RMB43.65 million for the 95% equity interest in its subsidiary, Huaiyi Construction, by a purchaser through public tender on the Qingdao Property Rights Exchange. The transaction, which surpasses the 25% threshold under listing rules and requires shareholder approval, signifies a major shift in the company’s asset structure. The deal is expected to finalize soon, pending a definite agreement signing.

For further insights into HK:0499 stock, check out TipRanks’ Stock Analysis page.