Tianjin Port Development (03382) proposed to transfer its entire 51% equity interest in Gangjun Logistics Co, and, its entire 55% equity interest in Lanta Co, by way of a listing-for-sale which is open to the public. The proposed listing prices are RMB237.41 million and RMB57.9 million respectively.
Immediately upon completion of the equity transfer, the group will not hold any equity interest in both Gangjun Logistics and Lanta Co. They will cease to be subsidiaries of the group.
Gangjun Logistics is principally engaged in the provision of depot storage services and the trading of ores and coke, while Lanta Co is principally engaged in the trading of ores and coke.
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