CSPC Pharmaceutical to Sell 30% Stake in Guoxin Huijin for 230 Million Yuan

MT Newswires Live

02/27

CSPC Pharmaceutical Group (HKG:1093) agreed to sell its 30.07% interest in the non-core business Beijing Guoxin Huijin for 230 million yuan, according to a Hong Kong bourse filing Thursday.

Shares of the firm gained nearly 4% in afternoon trade Friday.

The firm will cease to hold any interest in Beijing Guoxin Huijin, a media communication platform operator, following the disposal.

CSPC Pharmaceutical said it expects to record a 15 million yuan loss from the sale.

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