Zhong Ji Longevity Science Group's (HKG:0767) subsidiary Best Harvest disposed of 35,462,000 shares in Huarong International Financial (HKG:0993) on the open market for a little over HK$9.3 million at HK$0.2628 apiece, a Friday filing with the Hong Kong bourse said.
The disposal of the stake representing 0.41% of the total issued shares of Huarong was conducted over a series of transactions from March 20 to Oct. 2.
The company is expected to record a loss of HK$48.1 million from the disposal.
The company plans to use the proceeds from the sale for its general working capital.
The money lending company's shares closed over 9% higher on Friday.
Price (HKD): $0.25, Change: $+0.021, Percent Change: +9.17%
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