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BRIEF-Skyworth Digital's Unit Enters Deal About Proposed Investment By An Investor Into COOCAA

Reuters

March 16 (Reuters) - Skyworth Digital Holdings Ltd :

* ‍APPLIED TO STOCK EXCHANGE FOR RESUMPTION OF TRADING IN SHARES FROM 16 MARCH​

* UNIT ENTERS DEAL AS ONE OF COOCAA'S MANAGING SHAREHOLDERS ABOUT PROPOSED INVESTMENT BY AN INVESTOR INTO COOCAA

* ‍INVESTOR WILL CONTRIBUTE RMB 1.01 BILLION TO COOCAA​

* ON DEAL'S COMPLETION, GROUP'S STAKE IN COOCAA TO REDUCE FROM ABOUT 71.89 PERCENT TO 64.32 PERCENT

* DEEMED DISPOSAL EXPECTED TO HAVE NO IMPACT ON CO'S CONSOLIDATED PROFIT AND LOSS STATEMENT, SUBJECT TO CO'S AUDITOR'S REVIEW

* TO BEST OF DIRECTORS' KNOWLEDGE, INVESTOR IS UNIT OF BAIDU, INC Source text for Eikon: Further company coverage: