China Aoyuan Property said it has offered to pay 3.3 billion yuan (US$485 million) for an estimated 22 per cent stake of China Sports Industry Group , in a bid to tap into the country’s booming sports facility construction business.
The Guangzhou-based homebuilder said it has submitted the tender on Wednesday, at a price of no less than 17.53 yuan per share, according to a filing to the Hong Kong stock exchange.
In a separate statement to Shanghai stock exchange, China Sports said it…
Source : South China Morning Post
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