BC Technology sold 90% of its Shanghai subsidiary Jingwei for 23 million RMB and will issue new shares of the company

ChainCatcher news, Hong Kong licensed virtual asset exchange OSL's parent company BC Technology Group (00863.HK) announced that it has sold 90% of its stake in Shanghai Jingwei to independent third party Li Jiaming. The property currently managed and operated is a commercial park located in Shanghai, with a cash consideration of 23 million RMB, and an estimated pre-tax loss of approximately 18.5 million RMB from the sale.

In addition, BC Technology Group stated that it has applied for a temporary suspension of trading of its shares on the Stock Exchange, pending the announcement regarding the issuance of new shares of the company (which constitutes inside information of the company).