OKH Global plans to divest IT business
Shareholders to get units in firm holding the business
INDUSTRIAL property developer OKH Global plans to dispose of its IT business, which is separated from its core business, following a $123 million reverse takeover of Chinese technology firm Sinobest.
The company will divest itself of two units: Guangzhou Sinobest Information Technology and Sinobest Technologies (HK).
"The proposed distribution allows the company to dispose of the IT business, which has low return on equity," OKH said in a statement yesterday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention