Asia
Kwoon Chung Bus Splits, Sells Significant Stake in Tourism Subsidiary
Kwoon Chung Bus (HKG:0306) said it has completed the two-way split of its tourism services-focused indirect subsidiary and has sold significant stakes in each for a total of 225.2 million yuan, according to a Tuesday filing with the bourse.The bus-for-hire company said it split the unit into Lixian Bipenggou Tourism and Lixian Bipenggou Scenic Area Antu, then sold a 34.3% stake in each to wholly-owned subsidiaries of Chengdu Culture and Tourism Development.After the sale, the company retained a 51% indirect stake in each unit.
HKG:0306
