Renco Holdings Group Ltd. (HK:2323) has released an update.
Renco Holdings Group Ltd. has announced the sale of its entire equity interest in Delightful Time Limited to Fullenter Limited for HK$2.0 million, after negotiations that took into account the Target Company’s appraised market value of nil and a net deficit of HK$237.2 million. This strategic disposal is expected to result in an unaudited book gain of approximately HK$239.2 million for Renco Holdings and will allow the company to focus more on daily operations by offloading non-performing investments. The deal is seen as beneficial to the company and its shareholders, aligning with their interests.
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