Gemdale Properties & Investment (HK:0535) has released an update.
Gemdale Properties & Investment Corporation Limited has formed a joint venture, engaging in the acquisition and operation of the Gemdale Business Park Projects, with a subsidiary investing RMB 300 million for a 20% stake. The joint venture, with an investment cap of RMB 1.5 billion, is expected to yield net proceeds of around RMB 500 million for Gemdale after the subsidiary’s equity disposal. This transaction is significant enough to be classified as a discloseable transaction, necessitating public reporting and announcements.
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