China Aoyuan falls after it plans property sales to meet liquidity needs

China Aoyuan

27/01/2022 02:40

** Shares of China Aoyuan Group Ltd  3883.HK  fall 6.3% to
HK$1.50, the biggest daily percentage drop since Jan. 13, and on
course for the third straight session of decline  
    ** Stock jumps 5.6% after it reached a deal to sell Canadian
properties before it gives up all gains to sink to its lowest
since Jan. 20 
    ** Chinese developer plans sale of three properties in
British Columbia in Canada to Anthem Properties Group for C$215
mln ($169.32 mln), raising proceeds to repay loan and to meet
broader liquidity needs  urn:newsml:reuters.com:*:nFWN2U60TF
    ** Says it expects to recognise C$15.3 mln gain from the
disposal 
    ** Hang Seng Mainland Properties Index  .HSMPI  declines
2.4% and Hang Seng Composite Index on properties and
construction stocks  .HSCIPC  slips 1.5%
    ** Hang Seng China Enterprises Index  .HSCE  drops 2.6% and
the benchmark Hang Seng Index  .HSI  falls 2.2%



($1 = 1.2698 Canadian dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))