Hong Kong sofa and furniture supplier Man Wah Holdings closed at its highest level in two years at the Hong Kong Stock Exchange. This upped the value of the stock owned by the owners to USD1.1 billion.
Man Wah Holdings chairman Wong Man Li owns 80% of Man Wah Investment. The latter holds 607.6 million shares in the furniture company. His wife, director and Vice President Hui Wai Hing, owns 20% of the same.
After the price closed at HKD13.62 per share, the couples share had a worth of HKD8.27 billion of USD1.1 billion. In the previous year alone, the sofa supplier's stock price had almost tripled.
Presently, Man Wah Holdings has over 1,000 furniture outlets and operating under the two brands Cheers and Enlanda. Wong and Hui started the business in 1992 and listed it initally in Singapore in 2005. In 2010, it delisted from Singapore and relisted at the Hong Kong Stock Exchange.
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