Date
25 September 2018

SDIC cuts price in Lishen Battery stake sale, paper says

State Development and Investment Corp. has cut the selling price of its 14.03 percent stake in Tianjin Lishen Battery Join-Stock Co. Ltd., the country’s biggest lithium battery maker, China Securities Journal reported Sunday. The stake is being sold for 836 million yuan (US$137.12 million), 10 percent lower than the previous offer in September. The proposed sale will take place on the Shanghai United Assets and Equity Exchange. CNOOC New Energy Investment Co. Ltd. is the largest shareholder of Tianjin Lishen, the report said.

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EL/AC/RA

 

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