Econ Healthcare over the last weekend announced that it had spent some $4 million to buy 11.8 million shares of the Hong Kong interior designer, paying the equivalent of 29.26 cents and 40.04 cents each.
Nursing home operator Econ Healthcare (Asia) has sold all its shares in Crosstec Group Holdings, and will book a loss on investment of $3.4 million, turning what was initially a paper gain into a loss-making venture.
The loss is equivalent to 9.1% of Econ Healthcare's net tangible asset as of Sept 30 2021.
