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Yangzijiang Shipbuilding (Holdings) Ltd announces disposal of entire equity interest in WJYREDCO and JLIITCO, and subscription of shares in share capital of Taixing Tongzhou Warehousing Co., Ltd


Tuesday, 15 Jul 2014 05:11am EDT 

Yangzijiang Shipbuilding (Holdings) Ltd:Says wholly-owned subsidiary, Jiangsu Hengyuan Real Estate Development Co., Ltd, had previously invested to take 50 pct equity interest in Wujiang Jinke Yangzi Real Estate Development Co., Ltd (WJYREDCO).Group disposed entire 50 pct stake and consideration received for the disposal is 200,000,000 Yuan which is equivalent to 50 pct of total paid-up capital of WJYREDCO.Group to dispose entire 50 pct equity interest in loss making WJYREDCO at par value of 200,000,000 Yuan as it is in line with Group’s strategy to reduce its investment in non-core business gradually.Says wholly-owned subsidiary, Jiangsu Yangzijiang Shipbuilding Co. Ltd, had invested 100 pct of equity interest in Jiangsu Leyuan Innovation International Trading Co., Ltd (JLIITCO).Group disposed it's entire 100 pct stake in JLIITCO for consideration of 10,000,000 Yuan which is equivalent to the total paid-up capital of JLIITCO.Group to dispose entire interest held in JLIITCO at par value in view of the another wholly-owned subsidiary, namely, Jiangsu Yangchuan Equipment and Materials Co., Ltd that is also having similar business scope as of JLIITCO.Says wholly-owned subsidiary Jiangsu Tongzhou Marine Equipment Co., Ltd has subscribed for 100 pct equity interest in share capital of Taixing Tongzhou Warehousing Co., Ltd (TTWCO). 

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1.485
0.02 +1.37%
27 May 2015