Asia
Wansheng's Subsidiary to Buy Back Stake From Company for 13 Million Yuan
Zhejiang Wansheng's (SHA:603010) subsidiary, Sichuan Hui'anrong Information Technology, plans to repurchase about 4.96% of its stake for a consideration of 12.8 million yuan, according to a Shanghai bourse filing on Thursday.The stake represents 2.5 million of Hui'anrong's shares, which are held by the company.After the transaction, the Chinese chemical producer will no longer hold any shares in Hui'anrong.Wansheng's shares rose 2% during the afternoon trade.Hui'anrong will also repurchase 1.2 million of its shares from the company's related party, Gao Ya, for nearly 4 million yuan.
SHA:603010
