Emperor International Holdings' (HKG:0163) subsidiary, Thyme, agreed to sell 110 parking spaces and 71 bicycle storage units in Tuen Mun, Hong Kong, to Tai Hing Management for HK$92.8 million, according to a Tuesday filing with the Hong Kong bourse.
The transaction is expected to generate a fair value gain of HK$35.8 million. Proceeds will be used for general working capital and property development.
The deal's completion, which is exempted from shareholder approval, is expected on June 2.
The property firm's shares were up 1% in recent trading.
Price (HKD): $0.21, Change: $+0.0020, Percent Change: +0.99%
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