Singapore-listed Yangzijiang has collected CNY 140m ($22.75m) after shedding 50% of its holding in Jiangsu Huayuan Metal Processing (JHMPCO).
The company explains the deal is the latest in a line of moves to tighten focus on its central shipbuilding business.
Yangzijiang, China’s top performing yard in 2014, bought into JHMPCO in 2011 when it invested CNY 240m for its then 80% stake.
It
