Chervon Holdings Announces Major Asset Disposal and Special Dividend

The latest update is out from Chervon Holdings Limited ( (HK:2285) ).

Chervon Holdings Limited has announced a significant transaction involving the sale of its entire equity interest in a target company for RMB570 million. This transaction is classified as both a discloseable and connected transaction under Hong Kong’s Listing Rules, necessitating independent shareholder approval. Additionally, the company proposes a special dividend of HK$1.1905 per share, contingent upon the completion of this disposal, which could lead to a distribution of approximately HK$608.4 million to shareholders. This move is part of Chervon’s strategic efforts to optimize its asset portfolio and enhance shareholder value.

More about Chervon Holdings Limited

Chervon Holdings Limited is a company incorporated in Hong Kong, operating in the manufacturing industry. It is involved in producing and distributing power tools and outdoor power equipment, with a focus on expanding its market presence through strategic transactions.

YTD Price Performance: 10.09%

Average Trading Volume: 935,465

Technical Sentiment Signal: Hold

Current Market Cap: HK$9.81B

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