Leading Holdings Group to Dispose of Entire 50% Stake in JV for 205 Million

Leading Holdings Group's (HKG:6999) subsidiary Shenzhen Rongqi Investment Development agreed to sell its 50% stake in Shenzhen Fengsheng Shili Steel Pipe for 205.0 million yuan.

Of the total, 17.5% of the stake will be sold to Zhang Yanping, 15% to Hong Yuefeng, 12.5% to Teng Yudi, and 5% to Liang Hongyue, a Thursday filing with the Hong Kong Exchange said.

After the completion, the company will cease to have any interest in Shenzhen Fengsheng Shili Steel Pipe, which is mainly engaged in property development.