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Shanghai Industrial Urban Development Group Ltd ( (HK:0563) ) just unveiled an update.
Shanghai Industrial Urban Development Group Limited announced that a former executive director and chairman of Neo-China Land Group, a company in which it holds a significant stake, has been charged by the Independent Commission Against Corruption of Hong Kong. The alleged wrongdoing occurred before Shanghai Industrial’s acquisition of Neo-China, and the company emphasizes that its current management has no ties to the accused. The board of directors believes this case will not materially affect the group’s operations.
More about Shanghai Industrial Urban Development Group Ltd
Shanghai Industrial Urban Development Group Limited is a company involved in urban development and real estate, operating under the larger umbrella of Shanghai Industrial Holdings Limited. The company focuses on property development and management, with its shares listed on the main board of the Stock Exchange of Hong Kong.
Average Trading Volume: 1,860,261
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.65B
For an in-depth examination of 0563 stock, go to TipRanks’ Overview page.