8I Holdings to sell Singapore property/event company

22/05/2017 09:24:00

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8I Holdings Limited (ASX:8IH) has announced the sale of its property and event management company in Singapore.

The investment holding company entered into a Share Swap and Buy-Back Agreement to sell its interest in Hemus Pacific Private.

The deal with Clear A2Z Pte, is for a consideration of 7 million Buy-Back shares in 8I Holdings Limited (ASX:8IH).

If implemented, the proposed transaction will see 8I Holdings gain consolidated equity of about 450,000 Singapore Dollars. 

Shares in 8I Holdings Limited (ASX:8IH) has last traded 6.67% lower on Friday to 42 cents.