Shanghai Shentong Metro plans to publicly list and transfer 49% of the equity of Shentong Holdings.
Shentong Metro (600834.SH) issued an announcement to optimize the company's asset structure and effectively control investment risks. The company plans to transfer 49% equity of Shanghai Shendiantong Rail Transit Technology Co., Ltd. (referred to as "Shendiantong") held by public listing. The other shareholder of Shendiantong, Shanghai Electric Automation Group Co., Ltd., has the right of first refusal according to law. The listed base price for this transfer transaction shall not be lower than the value of the 49% equity of Shendiantong corresponding to the evaluation results filed.
Shanghai Shentong Metro (600834.SH) announced that, in order to optimize the company's asset structure and effectively control investment risks, the company plans to transfer its 49% equity stake in Shanghai Shendiantong Rail Transit Technology Co., Ltd. ("Shendiantong") through public listing. The other shareholder of Shendiantong, Shanghai Electric Group Automation Group Co., Ltd., has the right of first refusal. The minimum transfer price for this transaction shall not be lower than the value of 49% of Shendiantong's equity as determined by the recorded evaluation results.
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