Central China Management (HKG:9982) will acquire a 25% stake in Link Win Technology Development from Zhongcai Herui and CBN for HK$100 million, according to a Wednesday Hong Kong bourse filing.

The company's shares were down 4% in recent trade.

The consideration comprises HK$13.7 million in cash and HK$86.3 million via the issue of about 1.1 billion new shares at HK$0.08 each. The new shares will represent 18.86% of the company's enlarged share capital after completion.

The share issue is subject to shareholder approval, and the acquisition will not make Link Win a subsidiary, with its financial results not consolidated into the group's accounts, the filing said.