Sheen Tai Holdings Group Co. Ltd. (HK:1335) has released an update.
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Sheen Tai Holdings Group Co. Ltd. has announced a significant transaction involving the sale of a 100% equity interest in a subsidiary to an independent third party, Huaian Daxing Internet of Things Technology Co. Ltd. The deal, which does not require shareholder approval, was reached after arm’s length negotiations and based on the subsidiary’s net asset value as of May 31, 2024. This strategic disposal is set to reshape the company’s portfolio and is a notable event for stakeholders and potential investors.
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