November 4 -- Shenzhen SEG (000058.SZ) said it plans to sell its entire stake in its logistics subsidiary, SEG Store and Transport Enterprise, for 140 million yuan, reports yicai.com, citing a company filing.

The planned sale price is equivalent to the net value of the subsidiary through August 31.

The stake sale will bring in investment returns of 36.86 million yuan to the listed company in 2011, and contribute 24.51 million yuan to the company's net profit attributable to shareholders.

Funds from the sale of the subsidiary will be used to expand its electronics business, which is its main business.

Share trading had been suspended since March 1.
 

Source:CapitalVue