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%