Tung Fong Hung mulls sale

PUBLISHED : Wednesday, 30 July, 1997, 12:00am
UPDATED : Wednesday, 30 July, 1997, 12:00am

Chinese medicine retailer Tung Fong Hung (Holdings) said last night it was considering selling a 20 per cent equity stake to an outside party. The news follows the suspension of the company's shares yesterday after they surged 17.1 per cent to 44.5 cents. The purchaser is believed to be a northern Chinese provincial government. Trading in Tung Fong Hung shares is expected to resume this morning.