16 July 2019

Everbright removes requirement for share sale, paper says

China Everbright Group has removed a requirement for the sale of 170 million shares of Shenyin & Wanguo Securities Co. Ltd.  for 723 million yuan (US$119.42 million) at the Shanghai United Assets and Equity Exchange, the China Securities Journal reported on Sunday. The group had earlier required bidders to have a net asset of no less than 10 billion yuan and total assets of at least 30 billion yuan to participate in the sale, which represents a 2.53 percent stake in the brokerage, but has decided to remove the requirement to facilitate the sale, the report said.

– Contact HKEJ at [email protected]



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