The Clap Oriental Weavers (ORWE) announced that the company will cash out on its investments in China, accepting an offer received for its company in China.
Investments in China Oriental Weavers owns a subsidiary in China, under the name Oriental Weavers China, which contributed 0.2% of total revenues for the company.
Why Sell? Oriental Weavers took the decision to sell their company in China due to the spread of COVID 19. The company also added that its subsidiary in China does not add a significant amount of revenue to the parent company.