[ET Net News Agency, 6 December 2018] Poly Property Group Co., Limited (00119)
announced that its wholly-owned subsidiary Guangdong Poly and its controlling shareholder
Poly Financial have entered into an equity transfer agreement. Guangdong Poly has agreed
to acquire the 20% equity interest of Guangzhou Donghao Real Estate Development Company
Limited (Guangzhou Donghao) from Poly Financial. The total consideration was RMB301.43
million. After completion, Guangdong Poly will hold 75% equity interest of Guangzhou
Donghao.
Guangzhou Donghao engages in the development of a Dongjiao project located in the centre
of the south bank of Liwan District, Guangzhou City, the PRC. It is close to the
intersection of Guangzhou and Foshan main traffic streams and the core area of the former
Fangcun Old Zone. The place will be developed into an integrated community of residence,
retail shops and office premises. (RC)
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00119 POLY PROPERTY
Nominal 
1.290 +0.020 (+1.575%) Others
06/12/2018 17:44
Poly Property to buy 20% of Guangzhou Donghao at RMB301m
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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