Article: TONGFENG ELECTRONICS TO SELL STAKE IN HUISHANG BANK


AsiaInfo Services
11-23-2007
Tongfeng Electronics to Sell Stake in Huishang Bank

ANHUI, Nov 23, 2007 (SinoCast via COMTEX) -- Anhui Tongfeng Electronics Company Limited (SHSE: 600237) planned to sell its CNY 7.5 million shares in Huishang Bank Co., Ltd. to a Zhejiang-based company at not more than CNY 5.05 a share, or not less than CNY 37.875 million in total, announced the listed company on November 22.

After this equity transfer, the Anhui-based company will not have any holding in the regional city commercial bank. The deal will not blow heavy impact on the total assets and net assets of the Shanghai-listed company and bring in not less than CNY 20.35 million net ...

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