Brilliance China Automotive’s shares surged as much as 19% in Hong Kong, before paring gains to more than 15%, driven by the company’s proposed special dividend.
Brilliance China said that the company said it’s considering a special dividend of no less than HK$0.96 per ordinary share before August 31, using the net proceeds from the disposal of 25% equity interest in BMW Brilliance Automotive Ltd, according to a filing to the Hong Kong Stock Exchange.
The company is studying and exploring various investment opportunities available, including cooperation with BMW with respect to supply of components for BMW vehicles, possible expansion into new energy vehicles manufacturing and components business, and other automotive business, it added.
