Tai Ping Carpets International (HK:0146) has released an update.
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Tai Ping Carpets International Ltd, a leading carpet manufacturer and seller, has entered into a 10-year lease agreement for a showroom in New York, representing a significant discloseable transaction. The deal with 150 East 58th Street LLC is valued at approximately $6.7 million, excluding taxes, and includes a tenant fund of $0.5 million for leasehold improvements. This strategic move, which does not require shareholder approval, is set to enhance Tai Ping’s presence in the U.S. market.
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