Guangdong - Hong Kong Greater Bay Area (HKG:1396) agreed to sell Zhuo Ying to Guotai Cinda Investment Management for HK$130 million, a Tuesday bourse filing said.
The real estate investor will use proceeds from the sale for general working capital.
Following completion, certain asset guarantees provided to a bank against loans extended to units of Zhuo Ying will be regarded as financial assistance provided to the target company.
Property developer Zhuo Ying and Guotai Cinda Investment Management will also provide a counter-guarantee to Guangdong - Hong Kong Greater Bay Area against the collaterals pledged to the bank.
Price (HKD): $0.39, Change: $-0.010, Percent Change: -2.53%
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