HK Stock Market Move | KINGKEY FIN INT (01468) rose nearly 3%, planning to sell all shares of Trade Region Limited.

KINGKEY FIN INT (01468) rose nearly 3% as of the time of writing, up 2.94% to HK$0.7, with a turnover of HK$25.8797 million. In terms of news, KINGKEY FIN INT announced that on January 17, 2025, the company entered into a non-legally binding memorandum of understanding with Cheung Mau Hung (potential buyer). The memorandum of understanding outlines the potential sale of all issued shares of the company's wholly-owned subsidiary, Trade Region Limited, to the potential buyer. The target company and its subsidiaries are primarily engaged in the fur brokerage and mink farming business in Denmark. The target company's subsidiaries include UKF (Denmark) A/S, British Fur Limited, and Loyal Speed Limited, all of which are indirect wholly-owned subsidiaries of the group. The announcement stated that considering the changes in policies in Denmark, the group plans to gradually divest from the fur business. The board of directors has always prioritized the development of financial-related businesses, including expanding the existing business portfolio and engaging in new business operations with growth potential. Given the global trends in environmental, social, and governance measures, the group is actively seeking business and cooperation opportunities between the financial, sustainable development, and technology industries. The potential sale (if realized) will allow the group to allocate more resources to provide financial services and focus more on cooperation with sustainable development and technology to seize the resulting business opportunities.