Ka Shui International Holdings' (HKG:0822) subsidiary Ka Yi Technology (Huizhou) agreed to dispose of 40% equity interest in Kamay New Material Technology (Yulin) to Jiaxian Zhongtuo Huixin Technology for 10 million yuan, a Monday Hong Kong bourse filing said.
The company, through another of its subsidiaries, Ka Shui Metal, holds the other 60% equity interest in the target. After the completion of disposal, the target will become a non-wholly owned indirect subsidiary of the company.
The expected net proceeds of 9.9 million yuan are planned to be used by the group for its general working capital.
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