Hengda sells stake in internet subsidiary to secure 300 billion won

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Chinese real estate developer Hengda sold its remaining stake in its Internet subsidiary to secure an additional 300 billion won in cash.

On the 18th, Hengda announced on the Hong Kong Stock Exchange that it sold 1.662 billion Hengtung Internet shares for HK$2.13 billion the day before.

It is known that Hengda sold all of its remaining stake in Hengtung Internet through this transaction.

Previously, Hengda sold 530 million shares of Hengtung Internet stock over three days from the 4th to first secure HK$1.125 billion in funds.

Hengtung Internet is an Internet company that Hengda invested with Tencent and provides video streaming services.

Reference-news.sbs.co.kr

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