It is reported that Shenyang Huitian Thermal Power a producer of electricity, steam and heat plans to list the entire 100 stake of Shenyang Huitian Real Estate Development for sale on the Shenyang United Assets And Equity Exchange for CNY 40.11 million.

Through the share sale, Shenyang Huitian Thermal Power plans to optimize its asset structure and promote the development of its core business. Shenyang Huitian Real Estate Development had audited consolidated asset value of CNY 169 million and owners equity of CNY 19.38 million as of end June 2011.

During the first half of 2011, Shenyang Huitian Real Estate Development suffered a net loss of CNY 561,000.

(Sourced from yicai.com)