Asia
Road King Infrastructure Unit Disposes Of 65% Stake in Property Development Firm
Road King Infrastructure (HKG:1098) unit Shanghai Junxiang Properties Developments and Shanghai Lianxin Enterprise Development agreed to sell an 80% stake in Shanghai Junxin Property to Shanghai Waigang Industrial Development for 116.4 million yuan.Shanghai Junxiang Properties Developments will see proceeds of 94.4 million yuan from the sale of its 65% interest in the target, according to a Tuesday Hong Kong bourse filing.Following the sale, the property firm will no longer hold any interest in the target.Shanghai Junxin Property was formed for the joint development of a 70-mu land parcel in Shanghai into residential units and car parking spaces that have been sold.
HKG:1098
