Sino-Ocean Group Announces Asset Restructuring with Subsidiary

Sino-Ocean Group Holding ( (HK:3377) ) has shared an update.

Sino-Ocean Group Holding Limited has announced an internal restructuring transaction involving the return of 2,684 parking spaces in the PRC from its subsidiary, Sino-Ocean Service Group, back to the parent company. This transaction, valued at RMB323,200,000, will be settled through a long-term loan, with Sino-Ocean Group acting as the guarantor. The restructuring is considered a discloseable transaction under Hong Kong’s listing rules, as it results in a net acquisition of approximately 36.18% interest in the target assets.

More about Sino-Ocean Group Holding

Sino-Ocean Group Holding Limited is a company incorporated in Hong Kong with limited liability, primarily engaged in real estate development and related services. The company focuses on the development of residential, commercial, and office properties, with a significant presence in the People’s Republic of China.

Average Trading Volume: 51,620,757

Technical Sentiment Signal: Sell

Current Market Cap: HK$1.29B

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