Xinnanyang Only Education & Technology to Dispose of Stake in Shenwan Hongyuan's Subsidiary for 14 Million Yuan

MT Newswires Live

01/02

Shanghai Xinnanyang Only Education & Technology (SHA:600661) plans to offload its entire 0.30% holdings in a subsidiary of Shenwan Hongyuan Group (SHE:000166, HKG:6806) for 14.4 million yuan, according to a Thursday filing on the Shanghai bourse.

The Chinese education company's shares rose 2% during Friday's midday trade.

The stake of Shenyin & Wanguo Futures will be transferred to Shenwan Hongyuan.

After the transactions, Xinnanyang Only Education will no longer hold any equity in Shenyin & Wanguo, while Shenwan Hongyuan's stake in Shenyin & Wanguo will rise to 98.2% from 97.9%.

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