Yonghui Superstores (SHA:601933) sold 10% of its holdings in convenience store chain Chengdu Hongqi Chain (SHE:002697) for 799.7 million yuan, Yonghui said in its filing on the Shanghai Stock Exchange.
Sichuan Shangtou Investment acquired the stake, which accounts for 136 million shares in Chengdu Hongqi Chain.
After the transaction, Yonghui Superstores' holdings in Chengdu Hongqi Chain will decrease to 11% or 149.6 million shares, the Tuesday filing added.
Yonghui Superstores' shares rose nearly 3% in recent trade.
Price (RMB): ¥2.81, Change: ¥+0.09, Percent Change: +3.31%
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