Financial Wire

Knowledge Atlas to Acquire Property in Beijing for 360.5 Million Yuan

-- Knowledge Atlas Technology (HKG:2513) agreed to acquire Beijing Hongzuan Technology Development for 360.5 million yuan, according to a Hong Kong bourse filing on Tuesday.

Shares of the artificial intelligence company fell nearly 5% in morning trade Wednesday.

The company will pay 81.6 million yuan in cash to ACREP Diamond Investment, the seller, and assume 278.9 million yuan in loans owed by the target.

Hongzuan Technology owns a property in Beijing that the firm said could meet its daily administrative and business operational needs.

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Knowledge Atlas to Acquire Property in Beijing for 360.5 Million Yuan | Financial Wire