China Zenith Chemical Group's (HKG:0362) board has approved the proposed disposal of its entire 90% equity stake in unit Heihe Longjiang Chemical, a Nov. 8 bourse filing said.
The chemical company is currently in negotiations with an independent third party for the disposal.
Heihe Longjiang has been seeing poor operating results and continuous losses in recent years.
Shares of the company were down over 1% in recent trade.
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