Top Spring (03688) said it agreed to acquire 40% of the equity interests in Shenzhen Yanhan Shiye Company Limited at Rmb20 million and to contribute capital in the project company in proportion to its equity interests of Rmb20 million.
Top Spring also agreed to increase capital in the project company in proportion to its equity interests in the amount of Rmb20 million.
Shenzhen Yanhan Shiye has applied to be the principal redeveloper of a land located at the northeastern corner of the junction of Qiaoxiang Road and Shenyun Road, Shahe Street, Nanshan District, Shenzhen with a plot ratio GFA of about 87,090 square metres, of which around 60,910 square metres will be used for research and development properties, about 26,100 square metres will be used for ancillary quarters and around 80 square metres will be used for public ancillary facilities. There will also be an underground area of about 5,000 square metres to be used for commercial properties.
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