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MBV International Limited ( (HK:1957) ) just unveiled an announcement.
MBV International Limited has completed the disposal of its 40% stake in associate Lordan Group Ltd., meaning it no longer holds any interest in the company. The move marks an exit from this investment and removes the need to apply previously earmarked IPO proceeds to settle consideration for the Lordan acquisition.
With the original funding purpose no longer applicable, MBV has reallocated HK$33 million of unutilised IPO net proceeds toward upgrading sales offices, brand promotion and advertising, recruiting additional sales and design staff, developing an e-commerce platform, and general working capital. Management expects these investments to support expansion in the imprintable apparel and gift markets, strengthen sales and marketing reach across Malaysia and Singapore, and improve access to customers in regions not covered by its current physical network.
More about MBV International Limited
MBV International Limited operates in the imprintable apparel and gift markets, with a large customer base across Malaysia and Singapore built through intensive sales and marketing efforts. The group focuses on expanding its product portfolio and enhancing distribution channels, including plans to strengthen brand promotion and online sales capabilities to reach customers beyond its existing sales offices.
Average Trading Volume: 496,140
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$118.7M
See more insights into 1957 stock on TipRanks’ Stock Analysis page.