Future World Holdings (HKG:0572) agreed to acquire a 100% stake in Excelerate Holding from Choi Cheuk Heng Zenith for HK$2 million, a Wednesday filing with the Hong Kong Exchange said.
The HK$1.0 million consideration will be paid in cash on the completion of the transaction, while the remaining HK$1.0 million will be settled by the company allotting and issuing 1,428,600 new shares to the vendor at HK$0.7 per share.
The company's shares fell over 7% on Thursday's close.
Price (HKD): $0.65, Change: $-0.05, Percent Change: -7.14%
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