China YuHua Education's (HKG:6169) subsidiary, China YuHua Education Investment, agreed to sell 100% equity interest in Thai Education Holdings to Chinese resident Xin Yu for HK$240 million, a Friday Hong Kong bourse filing said.
The proceeds from the disposal are planned to aid the repayment of the convertible bonds due 2024 issued by the group.
The transaction is expected to be completed within five days from the fulfillment of the deal's terms.
Shares of the education services company closed over 5% lower on Friday.
Price (HKD): $0.37, Change: $-0.020, Percent Change: -5.13%
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