Brief: China Hanking updates on disposal of shares in Hanking Australia

Hanking Gold International

15/02/2017 14:46

Feb 15 (Reuters) - China Hanking Holdings Ltd  3788.HK : 
    * Company and other vendors entered into a binding share 
sale agreement with purchaser and guarantor 
    * Deal pursuant to which purchaser conditionally agreed to 
purchase, 100% of shares in Hanking Australia at enterprise 
value of AUD330 million 
    * Group is expected to record an unaudited gain of 
approximately RMB769 million 
    * Intends to use net proceeds from sale of shares in 
particular to improve co's capital structure, reduce its debt 
liabilities and increase its operating cash 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nHKS4yh1c6 
Further company coverage:  3788.HK  
 
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