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Estun Automation to Lift Stake in Subsidary

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Estun Automation (SHE:002747) will purchase an additional 44.8601% stake in subsidiary Estun Intelligent Technology (Jiangsu), according to a Thursday filing with the Shenzhen bourse.

The National Manufacturing Transformation and Upgrading Fund sold its 19.4574% stake while the China State-owned Enterprise Mixed Ownership Reform Fund sold a 3.7834% stake through public bidding on the Shanghai United Assets and Equity Exchange.

General Technology High-end Equipment Industry Equity Investment (Tongxiang) Partnership sold its 21.6193% stake to the listed company.

Following the sale, shareholding in the subsidiary will rise to 95.0107% from 50.1506%, the filing said.

What else is happening in Asia?

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