HK-listed Country Garden Services rises on acquisition to expand business

Colour Life Services

29/09/2021 07:59

** Shares of Country Garden Services Holdings Co Ltd
 6098.HK  rise 4.4% to HK$58.70, their highest since Sept. 14,
and on course for a second consecutive session of gain
    ** Stock is the fourth-biggest percentage gainer on the Hang
Seng property sub-index  .HSNP  and the sixth-biggest on the
benchmark Hang Seng Index  .HSI 
    ** Guangdong, China-based firm says its unit has agreed to
buy the core assets of property management firm Colour Life
Services  1778.HK  for 3.3 bln yuan ($510.35 mln)  urn:newsml:reuters.com:*:nFWN2QU0FP
    ** Co expands the scale and coverage of its business while
enhancing market competitiveness 
    ** The Hang Seng sub-index tracking property firms jumps
2.8%, and the Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  rises 1.8%
    ** The Hang Seng China Enterprises Index  .HSCE  climbs 0.4%
and the benchmark index  .HSI  gains 0.6%
    ** As of last close, stock had risen 7.2% this year
($1 = 6.4662 Chinese yuan)

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