Rail group sells stake in equity platform

China Railway Special Cargo Services Co announced on Thursday that it has completed the transfer of part of its equity in Shanghai United Assets and Equity Exchange to create favorable conditions for the company to be listed on the stock market. CRSCS announced that six investors, including Beijing Automotive Industry Corp and Singaporean industrial giant GLP Group, acquired the 15 percent stake on offer, with the transaction totaling 2.36 billion yuan ($349 million).