Transfer of Kunming Machine Tool approved, Xi'an Jiaoda Property becomes major s

Kunming Machine Tool (0300) announced that the Ministry of Finance approved Yunnan Province government, the current major shareholder, to transfer 71.05 mln state stocks to Xi'an Jiaoda Property Group on April 23. The deal, equivalent to 29% of the total stocks, involved RMB147.8 mln. Accordingly, Yunnan Province government reduced its shares to 31.345 mln shares, accounting for 12.8%.

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