Understanding the Market | MEXAN soared over 76% plans to sell hotels and acquire shopping malls while distributing special dividends

MEXAN Holdings surged over 76%, as of the time of writing, up 76.54%, trading at HKD 0.143, with a transaction volume of HKD 4.8509 million. In terms of news, MEXAN Holdings announced that it would sell the Yonglun 800 Hotel located at the southern shore of Blue Bay, Tsing Yi, to an independent third party, HKIA Accommodation, for HKD 765 million, with an estimated gain of approximately HKD 400 million from the sale. At the same time, it will acquire 8 shops and 305 parking spaces located at Hongjing Garden, Axe Hill Road, Kowloon, from the chairman and controlling shareholder, Lun Yau-ki, for an initial price of HKD 364 million. Upon completion, it is proposed to declare a special dividend for the significant sale and acquisition, amounting to HKD 0.06 per share