Guangdong Fenghua Advanced Technology (SHE:000636) plans to divest its 21.5% holdings in Guangdong Fenghua New Energy to Guangdong Electronics Information Industry Group, according to a Shenzhen Stock Exchange filing on April 12.
Guangdong Electronics Information Industry will buy the stake after being the only bidder on the Guangdong United Assets and Equity Exchange Center.
The stake had an initial bid price of 84.6 million yuan, the Chinese electronic equipment manufacturer said.
The company's shares rose over 1% in recent trade.
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