Han Tang International (01187) said it agreed to sell the entire issued capital of Tech One Investments Limited as well as sale loan for HK$1 million.
The target is principally engaged in investment holding and through a direct wholly owned subsidiary (Bright Eagle) which is principally engaged in investment holding, holds 72.79% equity interest in IC Spectrum (Kunshan) Co., Limited (ICSC). ICSC currently carries no business and its major asset is certain properties construction in progress in Kunshan, the PRC. Upon completion, Han Tang will cease to have any interest in ICSC.
The Group expects to record a loss of about HK$193.9 million from the disposal. The net proceeds of about HK$800,000 will be applied as general working capital of the Group.
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