Maoye International Holdings (HKG:0848) will voluntarily liquidate its unit ZiBo Maoye Commercial Building after failure to extend its business license, which expired June 25, according to a Tuesday filing on the Hong Kong bourse.
The license couldn't be extended due to a shareholder dispute. Under the law, the subsidiary will now be dissolved.
Maoye International owns an 80% stake in the unit through Zhongzhao Investment Management and expects minimal financial impact from the liquidation on its financial performance.
The company's shares were down 4% at the end of Wednesday's trading.
Price (HKD): $0.17, Change: $-0.0080, Percent Change: -4.44%
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