Yip's Chemical Unit to Sell 68% Stake in Handsome Chemical for $340.7 Million

MT Newswires · 07/26/2022 08:56

08:54 PM EDT, 07/25/2022 (MT Newswires) -- Yip's H.C. (Holding), a unit of Yip's Chemical Holdings (HKG:0408), will sell 4,080 issued shares of Handsome Chemical Development to PAGAC Heisenberg Holding II for 2.30 billion yuan (340.7 million).

The shares to be sold represent 68% equity interest in Handsome Chemical, according to a bourse filing on Monday.

The chemicals company also applied to the Hong Kong Stock Exchange for the resumption of trading of its shares today, July 26.

Price (HKD): $4.56, Change: $+0.29, Percent Change: +6.79%

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