Redco Properties to Transfer Real Estate to Settle Payments to Redco Healthy

MT Newswires Live

01/19

Redco Properties Group (HKG:1622) said it agreed to transfer certain real estate to settle a 159.1 million yuan payment to its non-wholly owned subsidiary Redco Healthy, according to a Hong Kong bourse filing Friday.

Shares of the property developer fell over 1% in late morning trade Monday.

The assets to be transferred include car parking spaces and certain residential and retail building units.

Redco Healthy is 75% owned by Redco Properties.

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