Shares of cash-strapped Shimao Group rose on Monday after the Chinese developer and its chairman sold a Shanghai hotel and a stake in a Hong Kong development, respectively, for a total of $836 million, in their latest efforts to raise funds.
The logo of property developer Shimao Group is seen on the facade of Shimao Tower in Shanghai, China January 13, 2022. REUTERS/Aly Songrose on Monday after the Chinese developer and its chairman sold a Shanghai hotel and a stake in a Hong Kong development, respectively, for a total of $836 million, in their latest efforts to raise funds.
The disposals come after Shimao put up its assets worth 77 billion yuan for sale to raise cash to repay its debts, offloading two other assets in the past two weeks for 3 billion yuan. The Shanghai-based developer said late on Friday it sold Hyatt on the Bund to state-owned Shanghai Land Co for 4.5 billion yuan.Its chairman Hui Wing Mau also sold his 40% stake in a Hong Kong high-end residential development to Hong Kong investors CSI Properties
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China home builders, suppliers issue spate of profit warnings as Evergrande woes biteA growing number of Chinese construction and decoration companies are writing off assets or issuing profit warnings as debt woes at China Evergrande Group and other property developers debilitate their suppliers.
Lire la suite »
Key inflation gauge surges 5.8% in December, fastest pace in four decadesAnnual inflation is running at the hottest pace in nearly four decades as widespread supply disruptions, extraordinarily high consumer demand and worker shortages fuel rapidly rising price increases.
Lire la suite »
‘And Just Like That’ Episode 9 Fashion Recap: For Charity’s SakeLeave it to Carrie to wear nearly six-inch platforms for a day of volunteering.
Lire la suite »
Thousands left without power as nor’easter churns up East Coast with snowLATEST: Flights cancelled, state of emergencies issued, and thousands left without power after nor'easter rips through the East Coast.
Lire la suite »
TikTok star, healthcare worker Leonardo Gil dies at 34 in hit-and-runGil, who amassed nearly 200,000 followers on TikTok, was just 34 when he died.
Lire la suite »
Lunar New Year 2022: What to know about Year of the TigerIn the Chinese Zodiac, the tiger is associated with power, rebellion, adventure and unpredictability.
Lire la suite »