BFB Health (HKG:0205) agreed to sell its entire interest in Golden Gate China for HK$10,000 to an independent third party, according to a Monday filing with the Hong Kong bourse.
Shares of the company slipped 1% in Tuesday's morning trade.
The disposal was completed immediately after the share transfer agreement was signed. Golden Gate China and its subsidiaries, which are mainly engaged in advertising and e-commerce in China, will no longer be consolidated into BFB Health's financial statements.
The proceeds will be used as general working capital, with the company saying the disposal will improve liquidity and allow it to reallocate resources to other opportunities.
Shares of the firm were down nearly 1% in Tuesday morning trade.