Qingdao Port International Co Ltd Class H (HK:6198) has released an update.
Qingdao Port International Co., Ltd. has announced the sale of a 2.58% stake in Shipping Group to its controlling shareholder, Qingdao Port Group, for RMB61.4744 million. The transaction, which is bound by the Hong Kong Listing Rules, does not require independent shareholder approval as it falls below the 5% threshold. Payment for the equity interests will be made in a single installment within 20 days following the effective date of the agreement.
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