The Zhitong Finance App learned that ESR (01821) has now fallen by more than 5%. As of press release, it is down 5.25% to HK$9.21, with a turnover of HK$58.8864 million.
According to the news, ESR publicly disclosed that it plans to sell its interests related to the ARA private equity business in Australia, Singapore, South Korea, and the US at a price of 270 million US dollars, respectively, to Sumitomo Mitsui Financial Leasing Company, and is expected to earn about 50 million US dollars from this. The deal involved 22 funds, and the asset management scale reached 9.8 billion US dollars.
ESR said it has confirmed that it will divest up to 750 million US dollars from the group's non-core business, and this sale is only the first related divestment. The directors believe that the sale of these traditional economic funds through a sale will streamline and simplify the Group's business and make the Group more focused on developing new economic segments. The cash from the sale will mainly be used to reduce the Group's financial liabilities.