28th Apr 2020 14:42
(Alliance News) - Pacific Alliance China Land Ltd on Tuesday said its net asset value slumped in 2019, as the investment company moves closer towards winding down.
Net asset value per share at December 31 stood at USD0.6697, down 75% from USD2.7192 per share in the year prior.
The stock was untraded at USD0.14 each in London on Tuesday afternoon.
The investment company's Manager Patrick Boot said: "We look forward to the completion of the delisting and liquidation and I would also like to thank the shareholders, on behalf of the board of directors, for all their support over the many years."
The company expects to be delisted by the end of the second quarter of 2020.
"Once the fund is delisted, and liquidation is completed, which the manager expects to take place over the next few months, any excess cash will be paid to shareholders in a final distribution as determined by the appointed liquidators," Pacific Alliance China said.
By Eric Cunha; [email protected]
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