Hin Sang Explores HK$183 Million Sale of Hong Kong Properties; Shares Up 11%
Hin Sang (International) (HKG:6893) is seeking buyers for two Hong Kong properties with indicative asking prices totaling HK$183 million, according to a Tuesday bourse filing.Shares of the healthcare and household products company were up over 11% in Wednesday morning trade.The assets include a property and car park in Sha Tin with an indicative asking price of HK$138 million, and a Tsim Sha Tsui property with an asking price of HK$45 million.The company has signed a legally binding mandate agreement with a property agent to market the assets, but no sale and purchase agreement has been entered into.Hin Sang said proceeds from the potential disposals may be used to support business development and to repay outstanding bank borrowings, thereby reducing finance costs.