Ying Li International Subsidiary Concludes Agreements for Disposal of Units; Shares Surge 11%

MT Newswires

2024-09-23

Ying Li International Real Estate's (SGX:5DM) indirectly wholly owned subsidiary, Chongqing Ying Li entered into five separate agreements on Nov. 17, 2023 with Jiang Zi'an for the disposal of commercial units, according to a filing with the Singapore Exchange on Monday.

The total consideration for the five properties is 40.6 million yuan and the disposal is part of the group's efforts to recalibrate its business model of focusing on property management services.

Proceeds from the disposals will be used for general working capital purposes.

Shares of the property manager surged over 11% in recent trading.

Price (SGD): S$0.02, Change: S$+0.0010, Percent Change: +5.56%

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