China Wood International Sells Step-down Subsidiary
MT Newswires Live2024-10-28
China Wood International's (HKG:1822) subsidiary Easy Top Ace disposed of the entire issued share capital of Gigantic Wisdom to Wanyi Asia for HK$50,000, a Monday Hong Kong bourse filing said.
Upon the completion, the disposed company and its subsidiaries have ceased to be subsidiaries of the company.
The company plans to use the net proceeds of HK$40,000 for the general working capital of the group.
The material trading company's shares closed over 5% higher on Monday.
Price (HKD): $0.31, Change: $+0.015, Percent Change: +5.17%
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