Hao Tian International Construction Investment Group (HKG:1341) has sold more than half its stakeholding in Tre 29 Investment for HK$42 million, according to a Thursday filing with the bourse.
The company said it sold 1,865 shares in Tre 29 back to them, reducing its stakeholding to 5.44% from 13.48%, and expects to record a profit of HK$12.1 million.
Hao Tian expects to use the proceeds from the stake sale for working capital for its margin financing business.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments