Mingly Corp's share price jumped 9.61 per cent yesterday, bolstered by its plan to shift its investment focus to United States high-technology stocks. Under a plan announced yesterday, Mingly would sell 454 million shares of a 57.3 per cent-owned subsidiary - HKR International - to its controlling shareholder, the Cha family, for $1.79 billion. Mingly will also acquire the Cha family's $770 million hi-tech portfolio by issuing 780 million new shares at $1 each. As part of this transaction, Mingly will receive $10 million cash from the family. Mingly shareholders will be given a special dividend of $1.30 for each share. They will also receive one HKR share for every 10 Mingly shares they hold. Mingly finished at $2.85 yesterday, compared with its last trading price on Monday of $2.60. Trading in Mingly was suspended on Monday, pending an announcement about the reorganisation. It resumed yesterday. The Cha family's hi-tech portfolio consists of stocks in 68 listed companies. About 84 per cent of these companies are listed on the US Nasdaq market. The rest are listed on the New York Stock Exchange and the American Stock Exchange. To strengthen its recurrent income, Mingly said yesterday it would buy the 27-storey CDW Building in Tsuen Wan from HKR for $989 million. This would be made up of $585.6 million in cash and by issuing 403.4 million new shares at $1 each. CDW Building will contribute an annual rental income of about $64 million to Mingly. After Mingly's reorganisation, the Cha family will own 66.2 per cent of the company and a 51.2 per cent stake in HKR. At present, the family has 66.4 per cent shareholding in Mingly and a 0.2 per cent stake in HKR. HKR will also hold 12.3 per cent in Mingly. HKR said yesterday it might use proceeds from the CDW Building to help finance its development project in Discovery Bay and to repay listed bonds due in June. HKR's shares yesterday eased 7.5 cents to $3.75.