Bohai Leasing (SHE:000415) will offload its entire 20.97% holdings in its subsidiary, Wanjiang Financial Leasing, for a consideration of 700 million yuan, according to a Shenzhen bourse filing on Saturday.
The Chinese leasing company's shares rose over 2% during Monday's midday trade.
Part of Wanjiang Financial Leasing's shares were judicially frozen.
After the transaction, Bohai will no longer hold any shares in Wanjiang Financial Leasing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.