Yuexiu Property to Sell Majority Stake in Project Company in RMB1 Billion Connected Deal

Yuexiu Property Co ( (HK:0123) ) has shared an announcement.

Yuexiu Property Co has agreed, via an indirect non-wholly owned subsidiary acting as seller, to dispose of an aggregate 73.74% effective interest in a project company to a group of purchasers, including Hangzhou Binjiang, Kunhe Construction and Zhejiang Yingguan, for a total consideration comprising RMB516.18 million in equity transfer, expected interest of about RMB4.45 million and an expected RMB501.48 million shareholder loan. Following completion, the seller will retain a 26.26% stake in the project company, with the remainder held by the new partners in roughly equal proportions, in a structure the board and independent non-executive directors deem fair, reasonable and on normal commercial terms; the deal is classified as both a connected transaction at the subsidiary level and a discloseable transaction under Hong Kong Listing Rules, triggering reporting and announcement obligations but exempting the company from independent shareholders’ approval, which streamlines execution while bringing in substantial funding and risk-sharing partners for the project.

The most recent analyst rating on (HK:0123) stock is a Hold with a HK$5.00 price target. To see the full list of analyst forecasts on Yuexiu Property Co stock, see the HK:0123 Stock Forecast page.

More about Yuexiu Property Co

Yuexiu Property Co is a Hong Kong–incorporated property developer and investor, operating through various indirect non-wholly owned subsidiaries and project companies. It is active in mainland China real estate projects, often partnering with other developers and construction firms via joint ventures to fund and develop land and property assets.

Average Trading Volume: 9,518,259

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$16.11B

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