China Securities Journal reported that Liuzhou Iron and Steel plans to transfer its eight percent stake in Liuzhou Xingjia Real Estate Development to its parent company, Guangxi Liuzhou Iron and Steel.

The value of the stake is being evaluated. The transfer price will not be less than the assessed price. The target company was established by Liuzhou Iron and Steel, Liuzhou Steel Group and another steel partner.

Liuzhou Steel Group invested CNY 18 million in the real estate company, accounting for 90% of its registered capital, while Liuzhou Iron and Steel injected CNY 1.6 million accounting for eight percent of the registered capital.

(Sourced from China Securities Journal)