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Top Form Explores Sale of Entire Stake in Shenzhen Subsidiary; Shares Gain 5%

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Top Form International (HKG:0333) is exploring the possible disposal of its 70% stake in Shenzhen Top Form Underwear, alongside Shenzhen Textile, which owns the remaining, according to a Wednesday Hong Kong bourse filing.

The target company owns industrial and residential properties in Shenzhen's Futian District and is principally engaged in property investment and consultancy services for ladies' intimate apparel and accessories.

Top Form said no definitive agreement has been reached and key terms, including the transaction structure, tender price, buyer, and final consideration, have yet to be determined.

Shares of the firm were up over 5% in Thursday morning trade.

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