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00363 SHANGHAI IND H
RTNominal unchange10.600 0.000 (0.000%)
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01/02/2018 11:50

Shanghai Ind unit to buy stake in land development firm

[ET Net News Agency, 1 February 2018] Shanghai Industrial (00363) said its indirect non
wholly-owned subsidiary Shanghai Urban Development agreed to acquire 35% equity interest
in Shanghai Real Estate Northern Region Investment Development Company Limited (NR
Investment) at Rmb88.34 million.
NR Investment is a company established in the PRC principally engaged in primary land
development.
Shanghai Industrial believes the acquisition provide a good opportunity for SI Urban
Development to expand its investment to the primary land development business in Shanghai,
which complements its principal businesses. (HL)

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