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Rising Nonferrous Metals Share to Exit from JV with TDK

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Rising Nonferrous Metals Share (SHA:600259) will divest its 37% stake in a joint venture with TDK (TYO:6762) through a public listing on the Guangdong United Property Exchange Center for a minimum of 141.8 million yuan.

The final price for the stake sale of the Guangdong Dongdianhua Guang Sheng Rare Earth High-Tech Materials JV is subject to bidding results, according to a Friday filing with the Shanghai bourse.

Following the stake sale, TDK will still hold 63% of the JV. The stake sale will help the company optimize its asset structure, Rising Nonferrous said.

Shares in TDK rose 1% during afternoon trading on Monday.

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Rising Nonferrous Metals Share to Exit from JV with TDK | FINWIRES