Brainhole Technology Offloads KE Holdings Shares; Brainhole Shares Gain 1%

MT Newswires Live

07/14

Brainhole Technology (HKG:2203) said it sold all of its shares in KE Holdings or Beike (HKG:2423) for HK$7.4 million, according to a Hong Kong bourse filing Friday.

Shares of the electrical parts and components manufacturer rose 1% in afternoon trade Monday.

The company disposed of 147,000 Beike shares at an average price of HK$50.59 each.

Beike is the operator of Lianjia, a Chinese real estate brokerage.

The sale of shares is expected to lead to a loss of HK$2.5 million to the company's financial results for the year ending Dec. 31.

Brainhole said the sale will help the company reallocate resources for general working capital purposes.

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