Keppel Divests Partial Stake in Tianjin Fulong Property Development

MT Newswires

06-16

Keppel (SGX:BN4) completed the divestment of a 30% stake in Tianjin Fulong Property Development, according to a filing with the Singapore Exchange on Friday.

Keppel rose 2% on Monday.

Following the divestment, Keppel Hong Da (Tianjin Eco-City) now holds a 21% stake in Fulong, while Changzhou Fushi Real Estate Development, an indirect wholly owned subsidiary, continues to hold a 49% stake in Fulong.

The remaing 30% stake is held by Tianjin Shunhua Real Estate Construction Management.

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