Kwan On Holdings Announces Major Subsidiary Disposal and Financial Assistance

Kwan On Holdings Ltd. ( (HK:1559) ) has issued an announcement.

Kwan On Holdings Limited announced a major transaction involving the disposal of a wholly-owned subsidiary and the provision of financial assistance. This transaction will result in the subsidiary no longer being consolidated into the company’s financial results. The company will continue to provide a guarantee for a bank facility, and the transaction requires shareholder approval under the Hong Kong Stock Exchange Listing Rules. The company has already obtained the necessary written approval from a major shareholder, Sino Coronet, which holds a majority of the company’s shares.

More about Kwan On Holdings Ltd.

Kwan On Holdings Limited is a company incorporated in the Cayman Islands, primarily involved in the construction and engineering industry. It focuses on providing construction services and related financial assistance.

YTD Price Performance: 66.67%

Average Trading Volume: 178,285

Technical Sentiment Signal: Sell

Current Market Cap: HK$280.4M

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