Brief: Panasialum Says Resolved To Dispose Land At Guangzhou By A Public Auction

PanAsialum Holdings

08/07/2020 14:35

July 8 (Reuters) - Panasialum Holdings Co Ltd  2078.HK :
    * RESOLVED TO DISPOSE LAND PARCEL AT GUANGZHOU BY WAY OF A
PUBLIC
LAND AUCTION
    * GROUP WILL BE COMPENSATED BY PLANNING & NATURAL RESOURCES
BUREAU
FROM PROCEEDS DERIVED FROM SALE OF LAND
    * THEORETICAL MINIMUM BID PRICE FOR LAND TO BE AT LEAST
RMB1,112.2
MILLION
    * EXPECTS COMPENSATION AMOUNT FROM PROPOSED DISPOSAL TO BE
ABOUT
RMB1.5 BILLION
    * EXPECTS NET GAIN OF AT LEAST ABOUT RMB1.39 BILLION FROM
PROPOSED
DISPOSAL
    * PANASIALUM SEES COMPENSATION OF RMB667 MILLION FROM
DISPOSAL IF
‍FINAL BID PRICE IS SAME AS THEORETICAL MINIMUM BID PRICE 

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS382S9R
Further company coverage:  2078.HK 

 (Reuters.Briefs@thomsonreuters.com)