Kryptonium, November 3rd | yuexiutransport (01052.HK) announced plans to sell 60% equity of Tianjin Jinfu Expressway. As of the date of this announcement, Xiangtong has completed the pre-disclosure before the listing, and the formal listing notice has been submitted to the Guangdong United Property Rights Exchange Center and Guangzhou Stock Exchange. It has been published on the websites of Guangdong United Property Rights Exchange Center and Guangzhou Stock Exchange on the date of this announcement to initiate the formal listing process. The minimum price for the potential sale (i.e. the floor price for the transfer of equity) is RMB 0.19 billion yuan. The final price will depend on the final delisting price, but will not be lower than the minimum price in any case.
Since its establishment, the target company has been engaged in the construction, operation, management, and maintenance of Tianxiong Expressway. Considering that there are six years left in the toll collection period, and the extension needs regulatory approval and will incur additional capital expenditure, the company has evaluated its strategy and expects potential sale transactions to generate immediate cash inflow, with the anticipated completion of the trade expected to enhance the company's net profit.
