China Baoyuan Investment, which holds 30.11% of Neo-neon (HKG:1868) controlling shareholder Tongfang, is transferring its stake in Tongfang to China National Nuclear Corp. (CNNC) at nil consideration.
Since China Baoyuan is wholly owned by CNNC, the State-owned Assets Supervision and Administration Commission of the State Council will remain Tongfang's actual controller.
Tongfang holds a 64.81% interest in Neo-neon, a Wednesday Hong Kong bourse filing said.
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