Hong Leong Asia's NYSE-Listed Unit Acquires Stake in Nanyue Diankong (Hengyang) Industrial Technology

MT Newswires

01/13

Hong Leong Asia's (SGX:H22) New York Stock Exchange-listed arm, China Yuchai International's subsidiary, Guangxi Yuchai Machinery, acquired a 27.97% stake in Nanyue Diankong (Hengyang) Industrial Technology, according to a Monday filing with the Singapore Exchange.

Shares of the manufacturer and distributor of powertrain solutions were up nearly 3% in Tuesday trading.

Total consideration for the acquisition of the stake is around 176.2 million yuan, following which, Yuchai has become the second-largest shareholder of Nanyue Diankong.

Nanyue Diankong specializes in fuel injection systems, common rail systems, unit pumps and mechanical pumps, the filing showed.

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