Asia
Sheng Yu Steel Parent to Sell 95% Stake in Yodogawa-Shengyu (Hefei) High-Tech Steel
Sheng Yu Steel (TPE:2029) parent, YODOKO signed a deal with Hebei Xinjin Wanli New Material Science & Technology to sell a 95% stake in Yodogawa-Shengyu (Hefei) High-Tech Steel, according to a Thursday Taiwan Exchange filing.Sheng Yu Steel's shares slid nearly 1% in Friday's midday trade.Under the agreement, YODOKO will transfer a 74.09% stake valued at 181.5 million yuan, while Sheng Yu Steel will sell its 20.9% stake for 51.2 million yuan, bringing the total transaction value toThe company said the equity transfer will optimize the allocation of management resources for its overseas operations.
TPE:2029
