Hing Lee (HK) Holdings Limited (HK:0396) has released an update.
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Hing Lee (HK) Holdings Limited has announced the sale of its entire equity interest in a subsidiary for HK$62.0 million, with net proceeds of HK$60.7 million to be paid as a special dividend to shareholders. The transaction marks a significant shift for the company as the subsidiary’s results will no longer be included in the group’s consolidated financial statements. Additionally, the company is seeking shareholder approval for a share premium cancellation, which is not contingent upon the disposal or special dividend payment.
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