Kantone's Chairman Sells Stake; Loses Controlling Shareholder Status

MT Newswires Live

04/10

Kantone's (HKG:1059) controlling shareholder, Innovative City Investments, disposed of 68 million shares in the company on Wednesday to two third-party buyers for nearly HK$13.4 million, a same-day filing with the Hong Kong bourse said.

Following completion, Innovative City Investments' stakeholding in Kantone fell to 18.2% from 36.4% previously, resulting in the former ceasing to be the company's controlling shareholder.

Innovative City is owned by Chan Koon Wa, chairman and an executive director of system software company Kantone.

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