ENM Holdings Limited (HKG:0128) announced that it has agreed to sell 8.95% equity interest in Smartdot at the consideration of RMB17.9 million (HK$21.872 million). The estimated gain from the disposal is HK$13.279 million.

The net proceeds are estimated to be HK$16.426 million and the Company intends to apply such net proceeds for the general working capital.

Smartdot is engaged in the development of software and solution projects in the PRC. Given the prevailing keen competition in the software industry in the PRC, the Company considers that it is an appropriate time to realise its investment in Smartdot.