Fosun International (HKG:0656) unit Fosun Joygo (Hainan) Technology agreed to sell its entire 44% equity stake in Guangzhou Taotall Technology to Hangzhou Tianyuan Pet Products on Friday, a same-day filing with the Hong Kong bourse said.
Shareholders including Huang Zhen and Tang Bin also agreed to sell smaller stakes in the e-commerce service provider.
The payment for the disposal may be settled through the issue of A shares by Hangzhou Tianyuan Pet Products, cash or a combination of both, but nothing has been finalized.
Fosun International will use proceeds from the disposal for general working capital.
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