China Travel International Investment Hong Kong (HKG:0308) said its board is yet to make a decision on a potential strategic review of the business, according to a bourse filing Thursday.
Shares fell nearly 20% in afternoon trade Friday.
The travel company said its board conducts a strategic review of the company's portfolio of businesses from time to time, mainly focusing on development strategy and maximizing returns for shareholders.
However, as of Thursday, no decision had been made as to any proposal, and there was no guarantee the company would undertake any transaction as part of a review, China Travel said.
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