Hong Kong Stock Movement | WANDA HOTEL DEV (00169) Surges Over 27% After Completing Hotel Services Business Sale, Special Dividend to Be Paid Next Month

Stock News

10/30

WANDA HOTEL DEV (00169) saw its shares surge over 80% in early trading before paring gains to 27.54% at the time of writing, trading at HK$0.176 with a turnover of HK$39.01 million. The company recently announced that all conditions precedent had been fulfilled, completing the sale of its mainland hotel services business, Wanda Hotel Management (Hong Kong), to Tongcheng Travel on October 16. Following the completion of the transaction, a special dividend will be distributed to shareholders registered on November 5, with payment scheduled for November 19.

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