Datang Telecom Technology to Sell Stake in Three Entities to Parent for 99 Million Yuan
Datang Telecom Technology (SHA:600198) will divest a significant portion of its holdings in three entities to controlling shareholder China Information and Communications Technology Group for a total of 98.5 million yuan, according to a Thursday filing on the Shanghai Stock Exchange.
The transaction includes the Chinese telecommunications equipment manufacturer's 37.2% stake in Guoxing Network, 40% in Nanjing Yunke Equity Investment Fund Management and 20% of its property share in Beijing Yunke Innovation Investment Partnership (Limited Partnership).
Datang Telecom's shares jumped more than 4% at the close of trading on Thursday.
Price (RMB): ¥5.28, Change: ¥+0.21, Percent Change: +4.14%
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