Zhuguang Holdings (01176) said it agreed to sell the entire issued share capital of Gains Wide Holdings Limited for Rmb1,000 million.
The target indirectly holds 13 rooms at the Royal Mediterranean Hotel, located at No.518 Tianhe Road, Tianhe District, Guangzhou, the PRC.
The Group expects to recognise an unaudited accounting gain of about HK$380 million from the disposal. The estimated net proceeds of about HK$971 million will be used as general working capital of the Group.
23/06/2017 11:37
Zhuguang Holdings to gain HK$380m from hotel properties sale
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