Brief: China Properties Investment Holdings announces disposal of subsidiary

China Properties Investment Holdings

22/08/2016 14:23

Aug 22 (Reuters) - China Properties Investment Holdings Ltd  0736.HK : 
 * Major and connected transaction disposal of subsidiary  0736.HK  
 * The company, as vendor, entered into the spa with the purchaser 
 * Deal for consideration of hk$100 million 
 * Purchaser has conditionally agreed to acquire the sale share 
 * Estimated that the group will record a gain of approximately RMB20.49 million (before tax) from the disposal 
 * Intends to apply net proceeds from disposal for development of money lending business and/or development of an elderly home project, if materialized 
 
 * Source text for Eikon  ID:nHKS6rR5GX  
 
 * ((Further company coverage:  0736.HK )) 
   ((Bangalore.newsroom@thomsonreuters.com))