Joy City Property Limited (HK:0207) has released an update.
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Joy City Property Limited has successfully completed the spin-off and listing of its Consumer Infrastructure REIT on the Shenzhen Stock Exchange, raising approximately RMB 3.323 billion in gross proceeds. This strategic move reduces the company’s interest in the project from 100% to 40% and is expected to enhance the company’s financial flexibility and brand influence, while providing a new avenue for equity-based financing.
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