HK Stock Market Move | UNITY GP HLDGS (01539) rises by over 5%, plans to acquire 25% equity of its Malaysian subsidiary for HK$200 million.

UNITY GP HLDGS (01539) rose more than 5%, as of the time of writing, up by 5.26% to 0.4 Hong Kong dollars, with a trading volume of 1.2071 million Hong Kong dollars. In terms of news, UNITY GP HLDGS announced that on January 15, the company's wholly-owned subsidiary, Hui Neng Global, intends to acquire 25.00% of the issued shares of Synergy Cooling Management Limited from Xinneng Environmental Engineering Co., Ltd. for 200 million Hong Kong dollars. As of the announcement date, the company indirectly owned approximately 63.04% of the target company's issued shares through Hui Neng Global. After the completion of the acquisition, the company will indirectly own approximately 88.04% of the target company's issued shares through Hui Neng Global. The target company is a holding company operating the group's business in Malaysia, which is one of the important regions for the group's expansion. The group is considering a potential secondary listing on the Malaysian Stock Exchange. The board believes that the acquisition is in line with the group's overall business development strategy and believes that it will benefit the potential listing and overall management of the target group's business. Additionally, after the completion of the acquisition, the company's equity interest in the target company will increase from approximately 63.04% to 88.04%. The board believes that as the target group continues to generate income from its business, the acquisition will expand the group's revenue.