HK-listed KWG Living soars on acquisition deal to expand operation

Kwg Living group

18/01/2021 02:58

** Shares of property management firm KWG Living Group
Holdings Ltd  3913.HK  surge as much as 10.6% to HK$7.80, their
highest since Jan. 11
    ** Stock last up 10.2%, on track for the best session since
Jan. 6
    ** Co., a unit of China's property developer KWG Group
Holdings  1813.HK , has agreed to buy 80% of property management
service firm Cedar Technology Group Co for 1.32 bln yuan ($203.7
mln) as it expands its gross floor area under management
nationwide  urn:newsml:reuters.com:*:nFWN2JQ0WX
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  slips 0.3%
    ** Both the Hang Seng China enterprises index  .HSCE  and
the benchmark index  .HSI  gain 0.5%
    
($1 = 6.4788 Chinese yuan renminbi)

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))