Shares of Chinese Estates Holdings open higher on Tuesday after it announced it would sell two properties to the long-time partner and son of controlling shareholder Lau Luen-hung for a combined HK$1.55 billion.
Paul Y, a wholly owned subsidiary of Chinese Estates, agreed to sell a residential site at No 12 Shui Fai Terrace, Mid-Levels East for HK$1.05 billion to Chan Hoi-wan, according to a filing with the Hong Kong stock exchange.
The sale comes two weeks after Lau, 65, was quoted as…
Source : South China Morning Post
Read more…Chinese Estates shares higher on sale of two properties for a total HK.55b
