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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