Credit Intelligence (ASX:CI1) entered into a share transfer agreement with an independent third party to sell its entire stake in its wholly owned subsidiary BNPL International for AU$1, according to a Wednesday filing with the Australian bourse.
The sale to Wai Cheung Yu is expected to result in a loss of about AU$257,000, subject to audit, and will allow the company to focus on more profitable projects, the filing said.
The board does not expect the sale to have any material impact on the company's financial position.
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