Aoyuan Healthy hits record low on talks to sell property services units

Starjoy Wellness and Travel

05/11/2021 02:48

** Shares of Aoyuan Healthy Life Group Co Ltd  3662.HK 
plunge 26% to record low of HK$2.76; also set for worst day
since March 2019 debut 
    ** Stock is the second-biggest pct decliner on HK bourse
    ** Aoyuan Healthy says is in early talks with several
independent third parties for possible disposal of interests in
certain units that provide property management services, but no
terms or agreement has been entered   urn:newsml:reuters.com:*:nFWN2RV1S0
    ** Shares of parent China Aoyuan Group  3883.HK , with a
market value of HK$6.37 bln ($818.5 mln), drop 12.7% to HK$2.20,
their lowest since June 2017   
    ** Hang Seng Mainland Properties Index  .HSMPI  falls 1.5%,
and the Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  drops 1%
    ** The Hang Seng Composite Index  .HSCI  declines 1% and the
benchmark index  .HSI  slips 1.1%
    ** As of last close, Aoyuan Healthy shares down 25.4% YTD,
while real estate developer China Aoyuan dropped 66.1%

($1 = 7.7829 Hong Kong dollars)

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