Kangda Environmental (06136) issued an announcement. On November 16, 2023 (after the Stock Exchange trading session), sellers...
According to the Zhitong Finance App, Kangda Environmental (06136) announced that on November 16, 2023 (after the Stock Exchange trading period), the seller Chongqing Kangda Environmental Protection Industry (Group) Co., Ltd. (an indirect wholly-owned subsidiary of the company) and the buyer Shenzhen Jinda Environmental Holdings Co., Ltd. signed a share transfer agreement with the buyer Shenzhen Jinda Environmental Holdings Co., Ltd., according to this, the seller has agreed to sell the sales capital (equivalent to 31% of the target company Zhongyuan Water Group Co., Ltd.), at a total cost of RMB 145 million.
The announcement stated that the sale would enable the Group to monetize the non-holding investments of the target group, increase the Group's liquidity and better allocate its resources to develop its existing business and/or invest in other business opportunities.