OCT (ASIA) is planning to publicly list and sell 100% equity of Overseas Chinese Town (Huizhou).

OCT (ASIA) (03366) announced that the group intends to publicly list and sell 100% equity of Overseas Chinese Town (Huizhou) through a designated stock exchange. According to Chinese laws and regulations concerning the disposal of state-owned assets, as the seller is a state-owned holding enterprise, the potential sale (if realized) will need to go through the process of public listing with a qualified equity trading institution. Information disclosure will be announced on the designated stock exchange website (https://www.sotcbb.com). As of the date of this announcement, Overseas Chinese Town (Huizhou) is an indirect wholly-owned subsidiary of the company, mainly engaged in factory leasing and property management business. Currently, its registered capital is HKD 168 million, fully paid up. The company believes that if the potential sale is realized, it can improve the group's financial situation. The matters are in line with the group's operational strategy of revitalizing assets and enhancing financial flexibility.