Sunfonda Group Divests Subsidiary Stakes

Sunfonda Group Holdings Ltd. (HK:1771) has released an update.

Sunfonda Group Holdings Ltd. has announced the disposal of its entire equity interests in three of its subsidiaries, which will result in the Group no longer owning any stakes in these Target Companies. The significant transaction included agreements with Zhongsheng Dalian to sell equity interests in Suzhou Sunfonda Toyota, Wuxi Sunfonda, and Yangzhou Sunfonda Junsheng. As the deal’s percentages fall between 5% and 25% of the company’s value, it meets the criteria of a discloseable transaction according to the Listing Rules, necessitating public disclosure.

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