MTT Group to Purchase Data Center Service Firm; Shares Slump 5%
MT Newswires Live
Jan 02
MTT Group (HKG:2350) agreed to acquire Hong Kong Hui Lang Technology from Wisewave Digital Technology for HK$87.5 million, according to a Wednesday Hong Kong bourse filing.
Shares of the information technology company were down nearly 5% in Friday afternoon trading.
The consideration will be satisfied through the issue of 125 million shares at HK$0.70 apiece. The shares represent 16.7% of the firm's enlarged issued share capital.
The target firm engages mainly in providing data center services, involving the trading of computer hardware, system integration, and maintenance services.
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