By Kimberley Kao
Mobvista's shares rose in Hong Kong after it announced a potential special dividend after the proposed sale of some of its businesses.
Shares jumped 11% in early Tuesday trading to 5.60 Hong Kong dollars, the equivalent of $0.72.
The marketing and advertising technology company said in an exchange filing late Monday that a board meeting has been scheduled for later this month to discuss its development strategy, and solutions to tackle "latest legal risks" in the U.S., including the possible sale of its Mintegral and marketing technology businesses.
"Assuming the proposed disposal progresses to the stage of voting by the shareholders of the Company, the Board will also discuss a special dividend corresponding to the Proposed Disposal to maximize its shareholders' interests," it said.
No binding agreement has been signed and there remains uncertainty on whether the sale will proceed, it said.
The company had said in February that new U.S. laws surrounding personal data protection from foreign adversaries, and the "America First Investment Policy" would potentially mean greater "regulatory scrutiny on companies and transactions involving technology, infrastructure, and critical industries - including those dealing in personal data."
Mobvista said then that while it full supports such initiatives to increase "transparency and accountability in data-handling practices," the changes could affect its businesses in a market where the company derives significant revenue.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
March 10, 2025 23:31 ET (03:31 GMT)
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