Shanghai Baolijia Chemical (SHE:301037) plans to sell its stake in Yantai Baolijia New Materials. via public auction on the Shanghai United Assets and Equity Exchange, as it looks to focus on its core business area, according to a Wednesday filing with the Shenzhen bourse.
The initial listing price is set at 54.2 million yuan. The final buyer and transaction price remain uncertain, and the sale is not expected to significantly impact the company's financial health.
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