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00363 SHANGHAI IND H
RTNominal down10.820 -0.080 (-0.734%)
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19/11/2018 18:01

Shanghai Ind (00363) buys 49% stake in SID Quanzhou

[ET Net News Agency, 19 November 2018] Shanghai Industrial Holdings Limited (00363)
said its non-wholly owned subsidiary SI Development has agreed to purchase from Feili
Fujian a 49% equity interest in SID Quanzhou for RMB978.18 million
SID Quanzhou is a property development company established to own and develop some
pieces of land located in Donghai, Quanzhou, the PRC to be a large urban integrated
community comprising commercial and residential buildings, hotels and ancillary
facilities.
SID Quanzhou is owned as to 51% by SI Development and 49% by Feili Fujian. After
completion of the acquisition, SI Development will directly hold 100% of the equity
interest in SID Quanzhou. (KL)

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