Pavillon Holdings Disposes of Minority Stake in Lingbao Gold Group
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Pavillon Holdings disposed of 2,513,000 shares in Hong Kong-listed Lingbao Gold Group for around HK$23.5 million, according to a Friday filing with the Singapore Exchange. The shares were disposed through indirect wholly owned subsidiary, Shanghai Yiwen Information and Technology, representing around 0.20% of the company's stake. Proceeds from the disposal will be used to fund general corporate and working capital needs, along with funding of new business investment opportunities.
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