Baoguang Industrial (00084) rose more than 27% in the intraday period. Yesterday, it closed 40% higher. As of press release, the increase was 8.79% to HK$0.099, with a turnover of HK$2,6692 million.
The Zhitong Finance app learned that Baoguang Industrial (00084) rose more than 27% in the intraday period, and closed up 40% yesterday. As of press release, it increased 8.79% to HK$0.099, with a turnover of HK$2,6692 million.
According to the news, Baoguang Industrial recently announced the sale of its wholly-owned subsidiary Universal Geneve SA to Breitling, a member company of the Breitling Group, at a total cost of 60 million Swiss francs (about HK$537.6 million). Upon completion, the Group expects to confirm sales proceeds of approximately HK$534.9 million. The announcement said that the sold company had been in a state of loss for the past few financial years and had very little revenue. The director believes that the sale of shares provides the company with a valuable and rare opportunity to monetize the value of the target company at a favorable price.