(Yicai) Dec. 26 -- Baoding Tianwei Baobian Electric is planning to divest all of its equity in its loss-making Indian subsidiary as part of the Chinese manufacturer of electric power transformers and transmission equipment's efforts to optimize resource allocation.

Baobian Electric intends to list 90 percent of the Indian unit’s equity for sale on the Beijing Equity Exchange, the Baoding-based company said yesterday. Upon completion of the sale, the firm will no longer hold any shares in the subsidiary.

Baobian Electric set up the Indian unit in 2012 with a registered capital of INR2.25 billion (USD26.4 million) for the production and sale of transformers in the South Asian country. However, the unit has incurred losses in the past two years, according to the company’s financial reports.

Editor: Kim Taylor