Wai Yuen Tong Announces Strategic Property Disposal

Wai Yuen Tong Medicine Holdings Limited (HK:0897) has released an update.

Wai Yuen Tong Medicine Holdings Limited has entered into a provisional agreement for the sale of a property valued at HK$21.90 million to private purchasers. The transaction, which is set to complete with a new tenancy agreement in place, is considered a disclosable event under Hong Kong’s Listing Rules, as it exceeds the 5% threshold of the company’s asset ratio. The property, a commercial shop in Hong Kong, was sold following arm’s length negotiations and is slightly below its independently appraised value of HK$23.00 million.

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