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China Development Financial Holding Corp’s Sub-subsidiary to Sell Stake in Grand Cathay Securities (Hong Kong) Limited
China Development Financial Holding Corp announced that a sub-subsidiary Grand Cathay Holding Ltd will sell 487,251,500 shares in Grand Cathay Securities (Hong Kong) Limited for USD 0.13 per share (USD 64,459,634) to KGI Limited, which is a subsidiary of the Company, due to merger between KGI Securities Co., Ltd. and Grand Cathay Securities Corporation. As a result, Grand Cathay Holding Ltd will hold no stake in Grand Cathay Securities (Hong Kong) Limited.
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