Pan Asia Data Holdings (HKG:1561) agreed to sell its entire stake in subsidiary Pan Asia Data (BVI) to Timenew, according to a Thursday filing with the Hong Kong bourse.
The decision follows persistent financial losses and regulatory challenges faced by Pan Asia Data. The disposal aims to improve the company's financial position and reduce future liabilities.
Upon completion, the subsidiary will no longer be consolidated into Pan Asia Data's financial statements. Shareholders will vote on the transaction at an extraordinary general meeting, with a circular expected to be issued by April 22, the filing added.
The company expects to record an estimated gain of about HK$7.6 million from the disposal, according to the filing.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。