Emperor International (HKG:0163) unit Emperor Property Investment agreed to sell King Hero Investments and a HK$138.4 million loan it owes to the seller to Emperor Watch & Jewellery (HKG:0887) unit Emperor W&J (HK & Macau) for around HK$79.8 million, according to filings on the Hong Kong bourse on Friday.
King Hero Investments owns a property investment firm that holds property consisting a space on 2/F to 4/F and the advertising space of Nos. 4-8 Canton Road, Kowloon, Hong Kong.
The property developer will use proceeds from the disposal for general working capital.
Shares of the company were down over 1% in recent trade.
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