7Road Holdings' (HKG:0797) two subsidiaries agreed to acquire the entire interest in Shanghai Lingsuda Technology Partnership for 122.3 million yuan, a Monday Hong Kong bourse filing said.
The buyers are Wuxi 7Road Technology and Wuxi 7Road Yunrui Equity Investment Management.
The target partnership is an investment holding company. It mainly invests in Nanjing Lingxing Technology, which operates a smart travel platform with one of the highest order volumes.
The group expects to gain financial returns through the investment via the acquisition and plans to source the acquisition through its internal resources.
The shares of the company closed over 5% higher on Tuesday.
Price (HKD): $1.17, Change: $+0.060, Percent Change: +5.41%
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