FAWER Automotive Parts (SHE:000030, SHE:200030), through a subsidiary, will dispose of all holdings in system-on-a-chip products distributor Black Sesame International Holding (HKG:2533), according to a Shenzhen bourse filing on Tuesday.
The Chinese automotive parts manufacturer's subsidiary, Fusai Automotive Electronics, will offload 1,648,482 shares or 0.26% of Black Sesame.
The disposal will take 24 months after the approval of the board.
FAWER's shares jumped less than 3%, while Black Sesame's shares soared over 7% in recent trade.
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