Singamas Container to Sell Majority Stake in Container Storage Provider
MT Newswires Live
Aug 10
Singamas Container (HKG:0716) agreed to sell 50.68% interest in Singamas Logistics (Tianjin) to SITC Logistics (HK) for 36.3 million yuan.
SITC Logistics (HK) will contribute an additional capital of around 16.70 million into Singamas Logistics (Tianjin).
Following completion, the company's shareholding in the target, which engages in the provision of container storage and repair services, will be reduced to 40%.
The company will use proceeds for other potential capital investments and general working capital.
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.