Ruihe Data Technology (HKG:3680) said its wholly owned unit agreed to acquire about 5.6% of the Class A shares in an investment fund from chairman and chief executive Xue Shouguang, according to a Wednesday Hong Kong bourse filing.
Shares of the tech firm were down over 6% in Thursday morning trade.
The consideration will be set at 70% of distributions received from the fund, subject to a cap of $10 million, with payments to be made after the company receives returns, the filing said.
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