LVGEM (China) Real Estate Investment Company Limited (HK:0095) has released an update.
LVGEM (China) Real Estate Investment Company Limited has announced a major property disposal, selling its subsidiary Shenzhen LVGEM’s assets for RMB813.87 million, alongside a leaseback deal for the same properties for five years. The deal is considered a major transaction under the Listing Rules and has already secured approval from the majority shareholders, negating the need for a general meeting. A detailed circular is expected to be released to shareholders by 31 July 2024.
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