Shoucheng Holdings Ltd. (HK:0697) has released an update.
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Shoucheng Holdings Ltd. has entered into a significant transaction to sell approximately 11.92% of its shares in Shougang Resources to Shougang Holding for around HK$1.46 billion. This restructuring move is aimed at optimizing the company’s portfolio and is subject to shareholder approval due to its major and connected transaction status under Hong Kong’s listing rules. The deal highlights Shoucheng Holdings’ strategic adjustments in the competitive coking coal industry.
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