HK-listed Country Garden climbs on deal to buy Hopefluent stake

Hopefluent group

10/11/2022 03:41

** Country Garden Services Holdings's shares  6098.HK  climb
as much as 4.4% to HK$11.30, set for second session of gains
    ** Chinese real estate service provider's unit to buy 144.8
mln shares of Hopefluent Group  0733.HK  for HK$233.1 mln ($29.7
mln) to enhance business development in real estate agency
business and property value-added services  urn:newsml:reuters.com:*:nFWN3252NF
    ** Company says will hold about 25% of Hopefluent on deal
completion; expects to fund deal with internal resources
    ** Stock of Guangdong-based Hopefluent falls 7.4%
    ** Hang Seng Mainland Properties Index  .HSMPI  slips 0.1%
and Hang Seng Composite Index on properties and construction
stocks  .HSCIPC  eases 0.6%
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both fall 1.9%
    ** As of last close, Country Garden's shares had dropped
76.8% this year, while Hopefluent's had fallen 10.4%
 
 ($1 = HK$7.8498)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))