Truly International to Sell Stake in Opto RS Unit In Exchange for Capital Injection
MT Newswires Live01-19 18:25
Truly International (HKG:0732) said it agreed to sell a 40% interest in its Opto RS unit in exchange for a 340 million yuan capital injection in the subsidiary by its associate Truly RS, according to a Hong Kong bourse filing Monday.
The transaction will reduce Truly International's ownership in Opto RS to 60% from 100%.
The agreement will also see Truly International's Truly Opto-Electronics unit invest a further 500 million yuan in the business.
Opto RS will use the 840 million yuan in cash to invest in a production line project for display components and modules.
Truly International is a shareholder in Truly RS, owning 29.69% of the business via an indirect wholly-owned subsidiary.
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