Taisun International Explores Sale Of Shenzhen Unit

Taisun International (00333) said it is discussing the sale of its 70% stake in Shenzhen Taisun Underwear Co. Ltd. with Shenzhen Textile (Group) Co. Ltd., which holds the remaining 30%, according to ETNet. The target company is a subsidiary engaged in property investment and consulting services related to women’s underwear and accessories, and it holds certain industrial and residential properties in the Bagualing Industrial Zone of Futian District, Shenzhen. Because Shenzhen Textile is a state-owned enterprise, the proposed disposal would constitute a transfer of state assets and must be conducted through public tender on the Shenzhen United Property Exchange. The two parties will publish an intention solicitation notice through the exchange tomorrow, with a 12-month public solicitation period.