Zhejiang Kanglongda Special Protection Technology (SHA:603665) plans to divest its entire interest in equity investor Suay Chin International to Mali-based Niangadou Distribut Compagnie for around 7 million British pounds, according to a Shanghai bourse filing on Thursday.
The company indirectly owns 51% of Suay Chin's stake through its subsidiary, Tai'an Xinchang Lithium Mining Investment Center (Limited Partnership).
Hu Yanxia hold the remaining 49% of Suay Chin, which will also be sold to Niangadou.
The Chinese glove manufacturer's shares jumped less than 6% during the afternoon trade.
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