Octopus (APAC) (SGX:43A) concluded the creditors voluntary liquidation of subsidiary, Wish Hospitality, according to a Wednesday filing with the Singapore Exchange.
Shares of the food and beverage company were down nearly 2% in Thursday trading.
Meanwhile, Wish Health Management was also reregistered from the Shanghai Municipal Administration for Market Regulation.
An amount of 22 million yuan held in the bank account of Wish Shanghai was retained by the local authorities, with the company instructing its lawyers in China to follow up with relevant authorities.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments