Towngas China Co (HK:1083) has released an update.
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Towngas China Co has embarked on a significant financial maneuver by disposing of its equity interests in subsidiaries to an asset-backed securities program. The company has entered into transfer agreements to sell its stakes in investment holding and energy projects, while also subscribing to a portion of the securities issued. This strategic move marks a discloseable transaction under Hong Kong’s listing rules, reflecting the company’s proactive approach in managing its investment portfolio.
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