Property News · October 21, 2020

Midland splits property business amid market slump as founder offers to take control of commercial brokerage unit


Freddie Wong Kin-yip, the founder of Hong Kong-listed property agency Midland, wants to buy the non-residential arm of the business from the group under a reorganisation to overcome an industry slump. Wong has offered to buy the shares of Midland IC&I at HK$0.09587 each, a small discount of around 0.14 per cent from the last trading price on Monday, according to an exchange filing late on Tuesday. The 69-year-old executive, who established the business in 1973, and his related parties in…

Source : South China Morning Post
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