Automated Systems (00771.HK) announced that its wholly-owned subsidiary GDD has sold a total of 0.9134 million shares of GDH (GDYN.US) through a broker through a broker for a total price of approximately US$11.7 million (approximately HK$91.2 million), representing approximately 1.19% of the total number of GDH shares issued and issued abroad. The average selling price per GDH share was approximately $12.8 (approximately HK$99.8 per GDH share), representing a discount of approximately 8.9% from the $14.05 closing price of GDH shares reported on Nasdaq on Thursday (12th) New York time.
Upon completion, the Group's total shareholding in GDH decreased from approximately 19.31% to 18.12%, and GDH will continue to be accounted for as its joint venture.
The Group expects the proceeds from the sale to achieve a book yield of approximately US$2 million (approximately HK$15.2 million), with the net proceeds intended to be used as potential investments or general working capital.