Maoye International (HKG:0848) will continue leasing office space from Shenzhen Maoye Group for a further two-and-a-half years, according to a bourse filing Friday.

Shares gained nearly 2% in afternoon trade Monday.

The company had initially leased office space in Shenzhen from Shenzhen Maoye Group - a firm controlled by Maoye International chairman Huang Mao Ru - for a six-month term ending June 30.

However, due to the suspension of an office restructuring plan, the retailer said it would continue leasing the same premises until Dec. 31, 2027.

Maoye International said it will pay a total of around HK$14.9 million in rent for the entire lease period under the two agreements.