China Ever Grand Financial Unit to Sell Shanghai Property for 6.3 Million Yuan

MT Newswires Live

05-26

China Ever Grand Financial Leasing Group (HKG:0379) agreed to sell a property in Shanghai for 6.3 million yuan to Shanghai Jino Saier Biotechnology, according to a Friday Hong Kong bourse filing.

The 724 square meters industrial-use unit, located in Minhang District, was sold by China Ever Grand Financial Leasing's wholly-owned subsidiary, Livingzone (Shanghai) Bio-Chem Technology.

The sale price reflects a slight discount to the property's book value of HK$7.07 million, with the company expecting to record a loss of around HK$1 million.

Proceeds will be used for general working capital, and deal completion is expected by Aug. 30.

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