E2 Capital proposing capital reduction after disposal of unit
Published on Apr 29, 2014 10:51 PM
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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!