Xinte Energy Subsidiary to Transfer 79.92% Partnership Stake for ABS Program
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Xinte Energy Co., Ltd. announced that its subsidiary, Inner Mongolia Energy, will transfer its 79.92% partnership stake, valued at RMB1,337 million, to the partnership's manager. This is part of establishing a First Tranche asset-backed securities program with the Shanghai Stock Exchange. The transaction, requiring no additional consideration, is a discloseable transaction under Hong Kong Listing Rules, highlighting the company's use of structured financing for capital and funding arrangements.
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