Wai Kee Holdings' Unit to Sell 76% Equity in Subsidiary for 125 Million Yuan; Shares Down 3%

MT Newswires Live

2024/11/19

Wai Kee Holdings (HKG:0610) step-down subsidiary WK China Construction agreed to sell 75.576% equity interest in Wuxi Qianhui Sewage Treatment to Wuxi Huicheng Water Group for 124.9 million yuan, a Monday Hong Kong bourse filing said.

The seller is a subsidiary of Build King Holdings (HKG:0240), a listed subsidiary of the company. After the completion, the seller will still hold a 10% equity interest in the target.

The Build King group plans to use the proceeds from the sale for its general working capital.

The construction engineering company's shares were down nearly 3% in recent trade.

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