Pavillon Holdings (SGX:596) disposed of 2,513,000 shares in Hong Kong-listed Lingbao Gold Group (HKG:3330) for around HK$23.5 million, according to a Friday filing with the Singapore Exchange.
The shares were disposed through indirect wholly owned subsidiary, Shanghai Yiwen Information and Technology, representing around 0.20% of the company's stake.
Proceeds from the disposal will be used to fund general corporate and working capital needs, along with funding of new business investment opportunities.
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