Qingdao Holdings International's Unit to Dispose 95% Stake in Subsidiary

MT Newswires Live

Dec 19, 2024

Qingdao Holdings International's (HKG:0499) subsidiary NEQH Development and Construction agreed to dispose of its 95% stake in Bengbu City Huai Yi Construction and Development to Bengbu City Huaiying Investment and Management for 43.7 million yuan on Nov. 29, a Wednesday Hong Kong bourse filing said.

Bengbu City Huaiying Investment and Management had won the bid to acquire the stake for around 43.7 million yuan through a public tender on the Qingdao Property Rights Exchange.

The group expects to make a gain of 4.1 million yuan from the disposal. The net proceeds from the disposal are expected to be about 41.4 million, of which, the company plans to use 90% for expansion of its existing business and 10% for it is general working capital.

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The net proceeds from the disposal are expected to be about 41.4 million, of which, the company plans to use 90% for expansion of its existing business and 10% for it is general working capital.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1229","symbol_name":"房地产经营公司","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2492129011","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492129011","pubTimestamp":1734592418,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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