STOCKS | Minglue Technology Unit To Buy 11.33% Stake In Wuhan Nightingale For RMB 28.183 Million

Minglue Technology-W (02718) said its non-wholly owned subsidiary Beijing Minglue Software has conditionally agreed to buy an 11.33% stake in Wuhan Nightingale from Tencent Industrial Investment, which is owned by Tencent Chairman and Executive Director Pony Ma, for RMB 28.183 million. The company said Wuhan Nightingale mainly provides marketing intelligence services, particularly private-domain tools based on the Tencent ecosystem. Wuhan Nightingale posted a profit of RMB 2.99 million last year. After the transaction is completed, Wuhan Nightingale will become wholly owned by Beijing Minglue Software and will continue to be accounted for as a subsidiary, according to ETNet.