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Cathay International To Net USD4.0 Million From Subsidiary Dividend

LONDON (Alliance News) - Cathay International Holdings Ltd said Monday it expects to receive ...

Alliance News 19 June, 2017 | 12:08PM
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LONDON (Alliance News) - Cathay International Holdings Ltd said Monday it expects to receive around USD4.0 million in a special dividend from its 51%-owned subsidiary Lansen Pharmaceutical Holdings Ltd.

Chinese healthcare investor Cathay said Lansen has declared a special dividend of 14.94 Hong Kong cents per share, amounting to HKD62.0 million or USD8.0 million in total.

Cathay said it will use its proportion of the proceeds for general working capital and repayment of bank debt.

Shares in Cathay International were untraded at 13.00 pence Monday.

By Adam Clark; adamclark@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Cathay International Holdings Ltd 7.88 GBX -1.56 -
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