Domaine Power Holdings (HKG:0442) said its wholly owned unit agreed to acquire trading and manufacturing memberships from the Hong Kong Gold Exchange for HK$15.7 million, according to a Monday Hong Kong bourse filing.
Shares of the company were down about 6% in Tuesday's recent trade.
The purchase, subject to approval by the gold exchange, includes one ordinary share and all rights attached to the memberships.
A deposit of HK$1.5 million has been placed with an escrow agent, and the remaining HK$14.2 million will be paid upon completion of the membership transfer process.
Domaine Power said the acquisition will support its expansion in Hong Kong's precious metals trading sector, adding that the memberships have resale value due to limited supply and secondary market demand.
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