Shanghai Foreign Service Holding Group (SHA:600662) plans to sell its 51% holdings in unit Shanghai New Century Hotel Development for no less than 382.3 million yuan,

The stake will be listed on the Shanghai United Equity Exchange. The listing price will be at least equal to the valuation of the equity, which is 749.6 million as of the base date of July 31.

Upon completion of the transaction, the Chinese human resources company's holdings in New Century will be reduced to 49%.