By Yi Wei Wong
HTC Corp. is selling the stake in Canadian e-commerce company Shopify Inc. held by its subsidiary, HTC Investment (BVI) Corp., it said Tuesday.
The Taiwanese consumer-electronics company said it will sell around 38,491 shares in Shopify. The value of the stake is estimated at 1.13 billion New Taiwan dollars (US$38.5 million).
The company will use the proceeds from the disposal as working capital, it said.
Write to Yi Wei Wong at yiwei.wong@wsj.com