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Industrial automation products manufacturer Estun Automation submitted an application to list its H shares on the Hong Kong Stock Exchange, according to a Monday filing with the Shenzhen bourse.
The proposed issuance and listing are subject to approvals with the China Securities Regulatory Commission, the Securities and Futures Commission and the Hong Kong bourse.
Estun Automation is selling a 20% stake in Yangzhou Shuguang to its management team for 94 million yuan.
The move will reduce its stake in its industrial automation subsidiary to 48% from 68%. The deal, valuing the industrial automation firm at CNY468M, follows Estun's strategy to refocus on core industrial robotics.
Shares of the industrial automation products manufacturer rose 1% in recent trade.
Estun Automation plans to issue H shares and list them on the main board of the Hong Kong Stock Exchange.
The proposal is still in the early stages and subject to approvals from shareholders as well as Chinese and Hong Kong regulators, according to a Thursday filing with the Shenzhen bourse.
Shares of the industrial automation products manufacturer rose 1% in recent trade.
Estun Automation plans to issue H shares and list them on the main board of the Hong Kong Stock Exchange.
The proposal is still in the early stages and subject to approvals from shareholders as well as Chinese and Hong Kong regulators, according to a Thursday filing with the Shenzhen bourse.
Shares of the industrial automation products manufacturer rose 1% in recent trade.
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