iRegent Group cancels KOL deal

iRegent Group (0575) announced that it cancelled the transaction of selling KoreaOnline Limited and will continue to hold 18 mln KOL shares, accounting for 40.2% of the total issued shares.

Earlier this year, iRegent Group announced to sell KOL to Abraxas Capital Limited at a price of HK$1.404 bln.

The company explained that the change of managing team in KOL boosted its confidence in the company, which made it decide to continue to control the company.

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