GREENHEART GP plans to sell forestry land and other assets in New Zealand and distribute a special dividend of HKD 0.01 per share, resuming trading on September 11
GREENHEART GP plans to sell forestry land and other assets in New Zealand, with a transaction amount of approximately NZD 134 million (about HKD 615.5 million), and intends to distribute a special dividend of HKD 0.01 per share. After the sale, the group will focus on light asset operations, expecting to generate an additional annual income of USD 150,000 through forest management agreements. The company has applied to resume share trading on September 11, 2025
According to the Zhitong Finance APP, GREENHEART GP (00094) announced that on August 29, 2025, its indirectly wholly-owned subsidiaries Greenheart Mangakahia Forest Land Limited, Greenheart Papakorakora Forest NZ Limited, and Greenheart Mangakahia Forest M ori Land Limited plan to sell assets for sale to Ingka Investments Forest Assets NZ Limited for approximately NZD 134 million (equivalent to about HKD 615.5 million).
The assets for sale mainly include multiple parcels of land located in New Zealand, New Zealand units, related licensing agreements, memorandums of understanding, and various records and operational data.
Upon completion of the sale, the group will no longer hold forestry land in New Zealand and will focus on a light asset business model, with revenue sources primarily from existing and newly acquired logging rights, forest management fees, and sales transactions of logs and timber products. At the same time, the group has signed a three-year forest management agreement with the buyer, which is expected to bring in additional annual revenue of USD 150,000 (approximately HKD 1.17 million).
After approval and completion by shareholders at a special general meeting, the board intends to distribute a special dividend of HKD 0.01 per share to shareholders listed on the company's shareholder register as of a yet-to-be-determined record date.
In addition, the company has submitted an application to the Stock Exchange to resume trading of its shares starting from 9:00 AM on September 11, 2025
