Financial Wire

King International Shares Rise 5% on Withdrawal of Winding-up Petition

-- King International Investment (HKG:0928) said a winding-up petition against it over the alleged non-payment of HK$259,862 was withdrawn in Hong Kong, according to a Hong Kong bourse filing on Tuesday.

Shares of the health products firm gained over 5% in morning trade Wednesday.

The petitioner was demanding payment under an employment contract with Life Healthcare (Hong Kong), a subsidiary of King International.

King International maintained that the petition should have been filed against Life Healthcare instead.

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