Hudson Capital sells its Hong Kong-based unit to private investors

Hudson Capital Inc. sold its wholly owned subsidiary, Hongkong Internet Financial Services Ltd., to private investors.

The sale, which included all of the prior operations, obligations, and commitments related to its Chinese operations, was completed on March 30.

Hongkong Internet Financial Services' sale will result in Hudson Capital departing from its legacy PRC financial advisory business.

Hudson Capital expects immaterial financial effects from the sale outside of incurring minimal legal expenses to assemble and formalize the transaction.