Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 1 April 2021, 09:41 HKT/SGT
Share:
    

Source: IBI Group Holdings Limited
IBI Announces Disposal of Strategic Investments and Realises Gain of HK$25.2 Million

HONG KONG, Apr 1, 2021 - (ACN Newswire) - IBI Group Holdings Limited ("IBI" or the "Group"; Stock Code: 1547), an investment holding company which specialises in the built environment including subsidiaries providing contracting services, distribution of high-tech and innovative building products and, air quality monitoring and management, announced the disposal of four of its global investments ("Disposal") through its wholly-owned subsidiary, IBI Investment Holdings Limited ("IBI Investment" or the "Company"). Upon completion, it will realise a total gain of approximately HK$25.2 million.

IBI Investment has diversified investment profiles. As of 31 March 2021, the Company has announced four disposals in the open market, including a total of 94,900 shares of Australia and New Zealand Banking Group Limited ("ANZ"); a total of 96,600 shares of National Australia Bank Limited ("NAB"); a total of 96,600 shares of Westpac Banking Corporation ("WBC") and a total of 27,200 shares of Commonwealth Bank of Australia ("CBA"), for a combined total consideration of approximately HK$58.2 million. As a result of the Disposal, the Group expects to realise a gain of approximately HK$25.2 million, representing the difference between the aggregate consideration of the Disposal and the aggregate purchase price of the shares sold. Subsequently, the Disposal is expected to enhance the Group's cash flow position and it intends to use the net proceeds as general working capital.

Mr. Neil Howard, Chairman and CEO of IBI, said, "Adhering to IBI Investment's mission to extend the Group's reach by making strategic investments, we have been exploring different investment opportunities that would be beneficial to the Group. Leveraging our strong financial position, we have made good use of our internal resources and invested in international blue chip companies with long histories and strong fundamentals. Although the COVID-19 pandemic has invariably affected the global economy, we are pleased to generate a favourable income for the Group amid this adversity and to have added significant additional value for our shareholders."

About IBI Group Holdings Limited (stock code: 1547)
Established in Hong Kong in 1997, the Group is an investment holding company focused on investments in the built environment. With the mission to deliver premium products, services and customer experiences with a strong influence of innovation, sustainability and wellness, the Group principally centers around the role of contracting along with subsidiaries providing innovative and high tech built environment solutions including air quality monitoring and management. Its major customers include a number of reputable organisations and commercial enterprises, including a horse racing and betting operator in Hong Kong, multinational banks, international hotel groups and hotel and casino operators. For more information, please refer to IBI's website: https://ibighl.com/.

Media Enquiries:
Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Stephanie Liu +852 2864 4852 stephanie.liu@sprg.com.hk
Adrianna Lau +852 2114 4987 adrianna.lau@sprg.com.hk
www.sprg.com.hk



Topic: Press release summary
Source: IBI Group Holdings Limited

Sectors: Construct, Engineering
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



IBI Group Holdings Limited
June 24, 2021 20:25 HKT/SGT
IBI Group Delivers Exceptional Results with Net Profit Surging 151.5%
May 3, 2021 20:00 HKT/SGT
IBI Issues Positive Profit Alert, Expects to Record Over 140% Increase in Profit Attributable to the Owners of the Company
Feb 19, 2021 15:55 HKT/SGT
IBI Officially Launches Building Solutions Limited
June 28, 2017 20:39 HKT/SGT
IBI Group Holdings Limited Announces FY2016/17 Annual Results
More news >>
 News Alerts
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: