Philly Shipyard ASA (AKRRF) has released an update.
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Philly Shipyard ASA has completed the sale of its operating subsidiary, Philly Shipyard, Inc., to Hanwha for $100 million. The company’s board plans to distribute a substantial portion of the proceeds to shareholders, while also considering the company’s future strategy and structure. An extraordinary general meeting is expected to be called in Q1 2025 to finalize the distribution plan.
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