Sunfonda Units to Sell Interest in Logistics Wing

MT Newswires Live

03-11

Various units of Sunfonda Group (HKG:1771) agreed to sell all their equity interest in Xi'an Sunfonda Jing River Logistics Development to Xi'an Zhongyu Real Estate for 81.9 million yuan, a Monday filing with the Hong Kong bourse said.

The target company, which engages mainly in domestic logistics services, owns a property located in Jinghe Industrial Park in Shaanxi Province, China.

The automobile seller will use proceeds from the disposal for general working capital for the development of its main business.

Price (HKD): $0.27, Change: $-0.020, Percent Change: -7.02%

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