KG NextVision to sell-off biz for $25M

KG NextVision Company Limited (0516) announces that it plans to sell the entire issued share capital of KG NextVision Development Limited, a wholly-owned subsidiary of the company, for a consideration of $25 million. The net proceeds of $10 million will be used as general working capital while the remaining portion of approximately $14.5 million will be used as reserve for investments in potential portfolio companies in communications, media and financial

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