OCT (ASIA) (03366) intends to publicly offer for sale 100% of the equity of OCT (Changshu) Industrial.

OCT (ASIA) (03366) announced that the Group intends to publicly list and sell 100% of the equity of Overseas Chinese Town (Changshu) Industrial through a designated exchange. According to relevant Chinese laws and regulations regarding the disposal of state-owned assets, since the seller is a state-controlled enterprise, the potential sale (if realized) will need to go through the public listing process via a qualified equity trading institution. The Company believes that if the potential sale is realized, it will align with the Group's operational strategy to optimize its business structure and concentrate resources on its core businesses. The proceeds from the proposed sale could also reduce the Group's interest-bearing debt and enhance its financial flexibility.