Shanghai Zhangjiang Hi-Tech Park to Divest 16.51% Stake in Zhangjiang Science Gate for 1.28 Billion Yuan

Stock News06-16

Shanghai Zhangjiang Hi-Tech Park Development Co.,Ltd. (ASX: 600895) has announced its intention to transfer a 16.51% equity stake in Shanghai Zhangjiang Science Gate Technology Development Co., Ltd. to Shanghai Zhangjiang (Group) Co., Ltd. The transaction, valued at 1.28 billion yuan, will be conducted via a non-public agreement transfer.

Zhangjiang Science Gate is a joint venture between the company and Zhangjiang Group. Upon completion of the deal, the company's ownership will decrease to 34.49%, while Zhangjiang Group's stake will increase to 65.51%.

This equity transfer is expected to optimize the company's asset structure, allowing for a reallocation of capital. The move supports the company's strategic shift towards focusing on its two core businesses: technology industry investment and providing comprehensive services across the integrated circuit industry chain, with the ultimate goal of transforming into a technology investment holding group.

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