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%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.