Phenix Optics to Trim Stake in Battery-Making Unit

MT Newswires Live

2024/11/08

Phenix Optics (SHA:600071) plans to sell 9.1% of its lithium-ion battery-making subsidiary, Phoenix New Energy (Huizhou), according to a Shanghai Stock Exchange filing on Thursday.

The equity, which has an assessed value of 6.5 million yuan, will be listed on the Shanghai United Property Exchange. The assessed price will be the listing floor price of the transaction.

The Chinese optical products manufacturer's equity in Phoenix New Energy will be reduced to 40.2% from 49.4% after the transaction is completed.

The company's shares rose more than 2% at the close.

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