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The latest update is out from Merchant House International Limited ( (AU:MHI) ).
Merchant House International Limited has completed the sale of its 33.79% interest in Tianjin Tianxing Kesheng Leather Products Company Limited, finalizing the transaction with proceeds released from escrow. The company has also ceased operations of its American Merchant, Inc. division, selling its equipment for US$4 million and is in advanced discussions regarding the sale of its land and buildings. The company remains solvent with plans to divest remaining assets, distribute funds to shareholders, and potentially delist from the ASX due to inadequate operations.
More about Merchant House International Limited
Merchant House International Limited operates in the footwear and home textile industry, primarily focusing on exporting work boots, waterproof and safety shoes to the USA, and designing and manufacturing home textile products like towels under the ‘Made in America’ concept.
Average Trading Volume: 201,809
Technical Sentiment Signal: Sell
Current Market Cap: A$14.14M
See more data about MHI stock on TipRanks’ Stock Analysis page.