CIFI Holdings (Group) Co (HK:0884) has released an update.
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CIFI Holdings has announced the sale of its 33% equity stake in a Hangzhou-based project for RMB495 million (approximately HK$539.55 million) to Hangzhou Binjiang. This transaction marks CIFI’s complete exit from the investment, as the agreement involves offsetting the sale price against an existing debt owed by Hangzhou Xingbo, a subsidiary of CIFI. The deal is classified as a discloseable transaction under the Hong Kong Listing Rules.
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