Ling Yue Services Fails to Secure Sichuan Land Tender Bid; Shares Up 4%
Ling Yue Services (HKG:2165) said it was unsuccessful in a public tender for land use rights in Sichuan, according to a Tuesday Hong Kong bourse filing.Shares of the property manager were up over 4% in Wednesday morning trade.The company had planned to bid for a parcel in Xichang City with an initial price of 142.7 million yuan, intended for residential and commercial development.A bidding deposit of 28.6 million yuan was fully refunded without interest or deductions, it said.