Datang Telecom Technology to Sell Stake in Three Entities to Parent for 99 Million Yuan

MT Newswires Live

2024-09-12

Datang Telecom Technology to Sell Stake in Three Entities to Parent for 99 Million Yuan

Datang Telecom Technology (SHA:600198) will divest a significant portion of its holdings in three entities to controlling shareholder China Information and Communications Technology Group for a total of 98.5 million yuan, according to a Thursday filing on the Shanghai Stock Exchange.

The transaction includes the Chinese telecommunications equipment manufacturer's 37.2% stake in Guoxing Network, 40% in Nanjing Yunke Equity Investment Fund Management and 20% of its property share in Beijing Yunke Innovation Investment Partnership (Limited Partnership).

Datang Telecom's shares jumped more than 4% at the close of trading on Thursday.

Price (RMB): Â¥5.28, Change: Â¥+0.21, Percent Change: +4.14%

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