Enterprise Development Unit Exits US Tech Holdings; Shares Gain 2%
MT Newswires Live
Jul 18
Enterprise Development (HKG:1808) said its wholly owned unit sold shares in four US-listed securities between February and July, generating total proceeds of about $21.7 million, according to a Thursday Hong Kong bourse filing.
The disposals led to an estimated gain of $2.8 million.
Shares of the company were up about 2% in Friday's recent trade.
The transactions involved 37,002 shares in AMD, 15,000 in Meta Platforms, 48,000 ProShares UltraPro QQQ units, and 47,017 Nvidia shares.
It no longer holds any of these securities.
The sales were made to restructure its investment portfolio and free up funds for general working capital and repayment of a margin loan, according to the filing.
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