January 26, 2018 / 5:36 AM / in 23 days

BRIEF-Shanghai Kinlita Chemical controlling shareholder signs agreement to sell stake in co

Jan 26(Reuters) - Shanghai Kinlita Chemical Co Ltd

* Says co’s current controlling shareholder, Wu Guozheng, signs agreement to sell 15 percent stake (70.6 million shares) to Ningxia-based asset management firm (buyer)

* Says Wu Guozheng will hold 4.5 percent stake (21.4 million shares) in the co and entrust 21.4 million shares corresponding voting power to buyer after transaction

* Says the buyer will become co’s top shareholder after transaction

Source text in Chinese: goo.gl/RFQbcP

Further company coverage: (Beijing Headline News)

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