Unity Enterprise's (HKG:2195) subsidiary Keybase Assets agreed to acquire the entire equity interest in Suntec Construction & Engineering from Yau Chung Chor for HK$45.7 million, a Tuesday Hong Kong bourse filing said.
The consideration will be settled through the allotment and issuance of up to 234,920,635 new shares and a promissory bond of HK$32.3 million to Yau.
Upon completion, the target company will become a wholly-owned subsidiary of Unity Enterprises.
The repair, maintenance, alteration, and addition works contractor's shares closed over 4% higher on Wednesday.
Price (HKD): $0.08, Change: $+0.0030, Percent Change: +4.05%
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