China Wood International Unit to Sell Holder of Wood Products Company; Shares Slip 4%
MT Newswires Live
Jul 10
China Wood International (HKG:1822) unit Fame Steps agreed to sell Asia Pacific Forestry Development (HK) to Yang Lei for HK$100,000, according to a Thursday Hong Kong bourse filing.
Shares of the trading materials firm were down nearly 4% in Friday afternoon trading.
The target engages mainly in investment holding and owns Qingdao Jinhuifeng Wood Industry, which engages in the processing and distribution of wood products.
The disposal will allow the company to optimize its business structure by selling the lower-margin pine/fir wood processing and distribution wing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.