Brief: Road King Infrastructure Says Co & Agile Group Agreed To Unwind Their Joint Ventures

Road King Infrastructure

24/11/2022 12:03

Nov 24 (Reuters) - Road King Infrastructure Ltd
 1098.HK :
    * CO & AGILE GROUP AGREED TO UNWIND THEIR JOINT VENTURES IN
THREE
PROPERTY DEVELOPMENT PROJECTS IN CHANGZHOU, PRC
    * CHANGZHOU RK PROPERTIES DEVELOPMENTS TO PURCHASE 50% STAKE
IN
CHANGZHOU ROAD KING YAJU PROPERTIES DEVELOPMENT
    * CHANGZHOU GREAT SUPERIOR PROPERTIES DEVELOPMENTS TO SELL
49%
STAKE IN CHANGZHOU YAJIN PROPERTIES DEVELOPMENTS FOR RMB428.4
MILLION
    * CHANGZHOU RK PROPERTIES DEVELOPMENTS TO PURCHASE 49% STAKE
IN
CHANGZHOU JINYA PROPERTIES DEVELOPMENT
    * DEAL FOR STAKES IN CHANGZHOU JINYA PROPERTIES DEVELOPMENT
&
CHANGZHOU JINYA PROPERTIES DEVELOPMENT FOR RMB423.7 MILLION
    * EXPECTS TO RECOGNISE NET LOSS OF AROUND RMB21.1 MILLION
FROM
DISPOSALS, FOR FY2022

Source text for Eikon:  ID:nHKS7kw8WN 
Further company coverage:  1098.HK 
 (Reporting by Poonam Behura)
 ((Poonam.Behura@thomsonreuters.com;))