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Vestate Group (01386) sells 49% in Ascent Pride for $50M
09 Jul 2018
(Infocast News) Vestate Group (01386) has agreed to sell 49% of the issued share capital of Ascent Pride to Golden Way for HK$50 million.

Ascent Pride, principally engaged in investment holding, owns the entire equity interest in Guangzhou Yinghui, a company principally engaged in operating of franchised stores in the PRC. Upon completion of a reorganisation, Ascent Pride will also own companies which are principally engaged in development and retailing of footwear products in the PRC.

Application has been made by Vestate Group to the Stock Exchange for resumption of trading in its shares with effect from 9:00 a.m. on 9 July 2018.

(WL)
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