Shimao Services Holdings Limited (HK:0873) has released an update.
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Shimao Services Holdings Limited has sold a 60% stake in a subsidiary sanitation services provider for RMB250 million, exiting the business following arm’s-length negotiations and an independent valuation using the market method. The transaction is classified as a discloseable transaction, requiring reporting and announcement under Chapter 14 of the Listing Rules. Payment for the transaction will be made in five installments, with the final one due by 20 June 2025.
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