Chuang's Consortium Completes Disposal of Island 37 Investment

MT Newswires Live

09/18

Chuang's Consortium International (HKG:0367) has completed the sale of its subsidiary Island 37 Investment, together with a shareholder loan of HK$213.4 million, to Annex W Group for HK$538 million, according to a Wednesday Hong Kong bourse filing.

Shares of the firm were up over 1% in Thursday morning trade.

Roughly HK$193 million of the proceeds was used to fully repay a bank loan.

Following the latest deal, Island 37 Investment has ceased to be a subsidiary of the group.

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