Heilongjiang Interchina Water Treatment (SHA:600187) plans to offload subsidiary Dongying Guozhong Environmental Protection Technology for 338 million yuan, according to a Shanghai Stock Exchange disclosure on Wednesday.
Guozhong Environmental Protection Tech will be sold to Dongying Hekou District Caijin Investment Group, the water services provider said.
After the transaction, Guozhong Environmental Protection Tech, the operator of the sewage treatment plant in Shandong Hekou Blue Economic Development Zone in China, will not be part of the company's consolidated financial statements.
The company's shares soared nearly 10% in recent trade.
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