GENESIS SCALE (00439) Plans to Divest Its Stake in Kuang-Chi Technologies

Stock News

Feb 03

GENESIS SCALE (00439) announced that as of the date of this announcement, the company (via the seller) collectively holds 40,799,936 shares of Kuang-Chi Technologies, representing 1.89% of the total issued shares of Kuang-Chi Technologies. Subject to shareholder approval, the Group intends to proceed with the sale of all these Kuang-Chi Technologies shares within the authorized divestment period (a 12-month term), either through the trading system of the Shenzhen Stock Exchange on the open market or via block trades. The expected selling price per Kuang-Chi Technologies share will not be lower than the minimum price of 33.56 yuan.

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