Prosperous Future Holdings (HKG:1259) sold the entire issued share capital of Apex Magic International to Deutschland Auto Spare Parts for HK$27 million, a Wednesday Hong Kong bourse filing said.

Under the agreement, investment holding firm Prosperous Future will also take all obligations, liabilities, and debts owing or incurred by Apex on or before completion.

As of the date of the filing, the said debt amounted to HK$294,636.

Apex owns certain lands and vacant properties in Yuen Long, Hong Kong which will be transferred over to the Prosperous Future as part of the deal.

Net proceeds from the disposal amount to HK$26.9 million, which will be used for the general working capital of the group.