Jiu Rong to Extend Deadline for Sale of Hangzhou Lu Yun Property

MT Newswires Live

07/02

Jiu Rong (HKG:2358) agreed to extend the deadline for the sale of its Hangzhou Lu Yun property for an additional six months, according to a Hong Kong bourse filing Wednesday.

The seller of digital televisions said the deadline was extended from June 30 to Dec. 31 to give the buyer, a certain company engaged in software park operations, and the company additional time to finalize transaction details.

Jiu Rong had announced the sale a year prior. At the time, the buyer agreed to make an advance payment of 165.0 million yuan which may be returned if both sides fail to reach an agreement.

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