22/10/2019 11:55

Yuexiu PPT (00123) to sell property project by public tender

[ET Net News Agency, 22 October 2019] Yuexiu Property Company Limited (00123) said it
intends to dispose of 100% equity interest held by Extra Act in Nanhai Yuexiu and the
related liabilities of Nanhai Yuexiu by way of a public tender process to be carried out
via the Guangzhou Enterprises Mergers and Acquisition Services.
Foshan Nanhai Yuexiu Property Company Limited (Nanhai Yuexiu) is a company established
in the PRC and is wholly-owned by Extra Act Limited (Extra Act), a wholly-owned subsidiary
of the Company established in Hong Kong. Nanhai Yuexiu mainly holds a complex property
project in Nanhai comprising shopping malls, entertainment facilities, offices and
residential properties.
The potential disposal is expected to improve the group's asset turnover rate and
generate additional cash inflow, which would enhance the group's ability to acquire or
invest in other land parcels or property projects. (RC)

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