Shanghai International Shanghai Growth Investment's (HKG:0770) substantial shareholder, Eternity Business (HK) Investment, entered into a memorandum of understanding with a third party to dispose of all of its shares in the company, a Wednesday Hong Kong bourse filing said.

Under the MOU, the vendor plans to dispose of and the potential purchaser plans to acquire 1,884,792 shares, representing 17.64% of the entire issued share capital of the company.

If the parties enter and complete a following formal agreement, the vendor will cease to be a shareholder of the company and the potential purchaser will become a substantial shareholder of the company.