Asia Allied Infrastructure Sells Modern Living Shares

Asia Allied Infrastructure Holdings Limited (HK:0711) has released an update.

Asia Allied Infrastructure Holdings Limited, through its subsidiary Chun Wo Overseas, has agreed to a placing agreement to sell 168 million shares of Modern Living Investments Holdings Limited, equating to 21% of the latter’s issued capital, at HK$0.30 per share. The transaction is classified as discloseable as it surpasses the 5% threshold under the Listing Rules, and upon completion, will restore Modern Living’s public float to just over the required 25% for trading resumption on the GEM.

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