National Electronics (HKG:0213) subsidiary National Properties Holdings agreed to sell Sonic Run Investments to Native Land Investment for 4 million pounds sterling.
The target company has equity interests in NLGS, an investment vehicle formed to provide funding to a UK-based real estate investment trust that acquired a London property in 2021.
The property is currently being redeveloped into a new residential site, with completion expected in late 2025.
The watch manufacturer plans to use the disposal proceeds for working capital, according to a Tuesday filing with the Hong Kong Exchange.
The stock was down over 6% in recent trade.
Price (HKD): $0.60, Change: $-0.040, Percent Change: -6.25%
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