GDH Limited has announced plans to privatise its Guangdong Tannery Limited (GTL) through a buyout of shares. The privatisation of the company, of which GTL already owns 72%, is set to cost about HK$46 million (US$5.9 million). In a joint announcement GDH and GTL stated that GDH had requested the GTL Board to put forward the proposal to the shareholders.

Under the proposed scheme, all scheme shares will be cancelled and GDH will pay the shareholders HK$0.28 in cash for each scheme share held.

Guangdong Tannery posted net profits of HK$4.7 million in 2004.