KUALA LUMPUR, Hong Seng Consolidated Bhd has announced the sale of its 32.6% equity stake in lingerie and apparel manufacturer Classita Holdings Bhd to NexG Sdn Bhd for RM60.3 million.
In a filing with Bursa Malaysia, Hong Seng said the disposal aligns with its strategy to streamline its investment portfolio and unlock value from non-core assets. The divestment is expected to provide the group with additional working capital to support its core business operations and future growth initiatives.
The transaction involves the sale of 256.3 million ordinary shares in Classita, formerly known as Caely Holdings Bhd, at a price of 23.5 sen per share. The disposal consideration will be satisfied entirely in cash.
Hong Seng noted that the stake sale is not expected to have a material impact on the group’s earnings for the financial year ending Sept 30, 2025, but will strengthen its liquidity position.
Classita, listed on the ACE Market, is involved in the design, manufacture, and retail of women’s lingerie, undergarments, and apparel, with an expanding presence in both local and overseas markets.
The deal is expected to be completed in the third quarter of 2025, subject to the fulfilment of customary conditions and regulatory approvals.
