San Yang Ma Chongqing Logistics (SHA:600173) approved a plan to participate in a public auction to acquire up to 11.2% equity in Chongqing Changjia Zongheng Private Equity Fund Management, according to a Tuesday filing with the Shenzhen Stock Exchange.
The auction, hosted by Chongqing United Equity Exchange, involves a 27.2% stake sale by Chongqing International Logistics Hub Park Construction.
San Yang Ma will use up to 6 million yuan in self-owned funds for the bid.
The transaction, classified as a related-party deal, awaits shareholder approval.
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