Hin Sang Group targets HK$183.00 million asset sale to unlock cash and retire debt

Bulletin Express
May 05

Hin Sang Group (International) Holding Co. Ltd. has disclosed that it is actively marketing two Hong Kong properties for a combined indicative asking price of HK$183.00 million. The assets comprise:

• A property with car-park in Shatin at HK$138.00 million • A property in Tsim Sha Tsui at HK$45.00 million

Management views the potential disposals as a means to: 1) Realise cash and strengthen the Group’s liquidity position for future development; and 2) Eliminate finance costs by applying part of the proceeds to fully repay outstanding bank borrowings.

The Board emphasised that the properties are non-core to ongoing operations and expects no material impact on business activities. Should the transactions proceed, they may constitute a very substantial disposal under Hong Kong listing rules.

The process remains at the indicative offer stage; completion is uncertain. Shareholders and investors are advised to exercise caution when dealing in the Company’s securities, and further announcements will follow in accordance with regulatory requirements.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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