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The latest update is out from Merchant House International Limited ( (AU:MHI) ).
Merchant House International Limited has successfully finalized the sale of its interest in Tianjin Tianxing Kesheng Leather Products Company, receiving approximately US$4.9 million. Following the cessation of operations of its home textile division, AMI, due to sustained losses, the company is in the process of liquidating its associated assets. The Board plans to distribute residual funds to shareholders, pursue delisting from the ASX, and wind up the group once asset sales are complete, ensuring financial solvency with a cash balance of A$1.778 million.
More about Merchant House International Limited
Merchant House International Limited operates in the footwear and home textile industries, primarily focusing on exporting work boots, waterproof and safety shoes to the USA from China, and designing and manufacturing home textile products like towels with an emphasis on American-made goods.
YTD Price Performance: 6.67%
Average Trading Volume: 105,933
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$15.08M
See more data about MHI stock on TipRanks’ Stock Analysis page.