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Thndr Claps » EGY Claps » Investment » Oriental Weavers cashes out on China investments 👋

Oriental Weavers cashes out on China investments 👋

by Omar El Shorafa
August 10, 2022

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.

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