Veson Holdings' (HKG:1399) subsidiary Scud (Fujian) Electronics agreed to sell the entire issued share capital of Prime Power Technology to Li Hangsheng for 2.25 million yuan, a Thursday Hong Kong bourse filing said.
The disposal will also dispose of Prime Power Technology's 50% holding in Cybertech Optiemus Holdings, a joint venture established by the company, Veken New Energy Technology, and Insight Technology Holding.
The sale proceeds are planned to be used for the working capital of the group.
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