USPACE Technology Group (HKG:1725) unit Total United Holdings will sell Productive Glory to Stable Brand for around HK$37.4 million, a June 28 bourse filing said.
The electronics manufacturer will use proceeds from the sale to repay borrowings incurred by a unit of the target company and for general working capital.
The target company engages mainly in investment holding.
Shares of the company were down nearly 2% in recent trade.
Price (HKD): $1.12, Change: $-0.02, Percent Change: -1.75%
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