KuangChi Science's (HKG:0439) controlling shareholder, New Horizon Wireless Communication, agreed to sell 178,550,936 shares in the company to an investor, a Monday filing with the Hong Kong bourse said.
The shares represent around 29% of the technology product and service solution provider's enlarged issued share capital.
New Horizon Wireless Communication is a unit of Innovative Power Group, which is owned by Shenzhen Dapeng Guangqi Investment Consulting. Liu Ruopeng, an executive director of KuangChi Science, is the controlling shareholder Shenzhen Dapeng Guangqi Investment Consulting.
Following completion, Liu, through New Horizon Communication, will own 22,462,859, or 3.65% shares in the firm.
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