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01766 CRRC
RTNominal up4.880 +0.130 (+2.737%)
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12/12/2018 11:24

CRRC (01766) to sell 70% of Nankou Science Park at RMB428m

[ET Net News Agency, 12 December 2018] CRRC Corporation Limited (01766) announced that
on 11 December 2018, its subsidiary Nankou Company entered into an equity transfer
contract with CRRC Real Estate. CRRC Real Estate agreed to acquire 70% equity interest in
Nankou Science and Innovation Park at a consideration of RMB428.28 million.
After the equity transfer, the relevant gains recorded in the consolidated statements of
Nankou Company will be RMB1.02 billion without taking account of taxation implication
Proceeds from the transaction will be applied to supplement funds for industrial
upgrade, business expansion and capital expenditure of Nankou Company. (RC)

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