Yuexiu Property (HKG:0123) plans to dispose of the entire equity interest in Guangzhou Grandcity Development through a public tender on GUAEE, with the minimum price for the potential disposal set at 1.09 billion yuan, a Friday Hong Kong bourse filing said.
The target is owned by the company through its subsidiaries Kingwongs Investment and Guangzhou Huazhen Technology Service, holding 81.26% and 18.74% of the equity interest in the target respectively.
Through the disposal, the company will also be disposing of certain office space and car parks in Guangzhou International Commercial Center in Tianhe District, Guangzhou.
The company has submitted the public tender notice with relevant details to GUAEE and GEMAS.
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