SINGAPORE - E2-Capital Holdings has proposed a capital reduction exercise to distribute cash to its shareholders following the sale of a unit.

It wants to issue a cash distribution of HK$0.67 for each share, amounting to an aggregate distribution of HK$187.6 million.

The company had successfully completed the sale of its entire interest in its wholly owned subsidiary, Wealthy Aim Investments Limited and received sales proceeds of HK$471.6 million.

The firm said in a statement that the capital reduction exercise will not result in any change in the number of shares held by any shareholder.

It's also exploring potential new businesses that would satisfy the Singapore Exchange's requirements for a new listing as it ceased to have any operating business following the completion of the disposal.