ICG Asia resells shares to MegaVillage to offset debts

ICG Asia (0715) announced to enter into restructuring agreement with its subsidiary MegaVillage. Last year, ICG took over MegaVillage, a consumer productions net, by two installments of US$5mln each. Now MegaVillage will buyback 35mln ordinary stocks to offset US$5mln, the second installment that should be paid by ICG.

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