A Chinese court has accepted an application filed by Chengdu Jingling Yinghe Real Estate, a JV firm of Leading Holdings Group (HKG:6999), for the reorganization of Chengdu Lingyuan Yinghe Real Estate and Chengdu Runde Yinghe Real Estate, a Thursday bourse filing said.
Chengdu Lingyuan Yinghe Real Estate and Chengdu Runde Yinghe Real Estate were slapped with a winding up petition in April. Chengdu Jingling Yinghe Real Estate was the sole shareholder of the two units before the court appointed administrators for them in May.
The reorganization is expected to boost the overall value of the two units, the filing said.
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