Kam Hing Sells Subsidiary in Major Transaction

Kam Hing International Holdings Limited (HK:2307) has released an update.

Kam Hing International Holdings Limited has announced the conditional sale of its entire equity interest in a subsidiary for a cash consideration of USD 10,276,000, approximately HK$80,152,800, after market hours on 18 July 2024. The transaction is classified as a major transaction according to the Listing Rules, requiring shareholder approval, which has been secured in written form from the Closely Allied Group, thereby negating the need for a general meeting. Following the sale, the subsidiary will no longer be part of Kam Hing’s consolidated financial statements.

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