Inkeverse Group (HKG:3700) has agreed to sell its entire 40% stake in Guangzhou Kuaichuang Network Technology to Zhuang Zehong, an individual affiliated with the company's subsidiary, for 80 million yuan, according to a Friday Hong Kong bourse filing.
The company said Zhuang's firm, Guangzhou 1846 Technology, will buy the stake.
Shares were last down 7% in Monday afternoon trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.