LAI SUN DEV Rises 4.8% Following Sale of CCB Tower Stake for Approximately HKD3.5 Billion
LAI SUN DEV Stock Performance: LAI SUN DEV (00488.HK) opened 4.76% higher at HKD0.66, but closed down by 1.587%.
Sale of CCB Tower Stake: LAI SUN DEV and LAI SUN INT'L (00191.HK) announced the sale of a 50% stake in CCB Tower for approximately HKD3.473 billion to Jasmine Investment Development IV.
Buyer Information: The buyer is reported to be a subsidiary of JD-SW (09618.HK).
Short Selling Data: There was significant short selling activity with a total of $150.04 million and a ratio of 14.095%.
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JD-SW Purchases Office Space in CCB Tower, Remains Positive About Hong Kong's Growth
Sale of Office Floors: LAI SUN INT'L and LAI SUN DEV announced the sale of office floors in CCB Tower for approximately HKD3.473 billion, pending approvals, with Jasmine Investment Development IV as the buyer, linked to JD-SW.
JD's Commitment to Hong Kong: JD expressed optimism about its future in Hong Kong, planning to invest in supply chain integration to boost its retail, logistics, and technology R&D operations in the region.
LAI SUN DEV Rises 4.8% Following Sale of CCB Tower Stake for Approximately HKD3.5 Billion
LAI SUN DEV Stock Performance: LAI SUN DEV (00488.HK) opened 4.76% higher at HKD0.66, but closed down by 1.587%.
Sale of CCB Tower Stake: LAI SUN DEV and LAI SUN INT'L (00191.HK) announced the sale of a 50% stake in CCB Tower for approximately HKD3.473 billion to Jasmine Investment Development IV.
Buyer Information: The buyer is reported to be a subsidiary of JD-SW (09618.HK).
Short Selling Data: There was significant short selling activity with a total of $150.04 million and a ratio of 14.095%.
Trading of LAI SUN INT'L/LAI SUN DEV Shares Suspended Due to Pending Insider Information Disclosure
Trading Halt: Shares of LAI SUN INT'L (00191.HK) and LAI SUN DEV (00488.HK) have been suspended on the Hong Kong Stock Exchange as of 9:13 am today.
Reason for Halt: The trading suspension is pending the release of a joint announcement from both companies, which will contain inside information relevant to each.
Trading of LAI SUN INT'L and LAI SUN DEV Shares Suspended Before Market Opening
Trading Halt: Shares of LAI SUN INT'L and LAI SUN DEV have been halted since 9:13 AM on the 27th, with the reason for the halt currently unknown.
Market Rumors: There are rumors that LAI SUN DEV is planning to sell a 50% stake in the CCB Tower in Central, Hong Kong, with JD-SW reportedly participating in the bidding process.
JD-SW Purchases Office Space in CCB Tower, Remains Positive About Hong Kong's Growth
Sale of Office Floors: LAI SUN INT'L and LAI SUN DEV announced the sale of office floors in CCB Tower for approximately HKD3.473 billion, pending approvals, with Jasmine Investment Development IV as the buyer, linked to JD-SW.
JD's Commitment to Hong Kong: JD expressed optimism about its future in Hong Kong, planning to invest in supply chain integration to boost its retail, logistics, and technology R&D operations in the region.
LAI SUN DEV Rises 4.8% Following Sale of CCB Tower Stake for Approximately HKD3.5 Billion
LAI SUN DEV Stock Performance: LAI SUN DEV (00488.HK) opened 4.76% higher at HKD0.66, but closed down by 1.587%.
Sale of CCB Tower Stake: LAI SUN DEV and LAI SUN INT'L (00191.HK) announced the sale of a 50% stake in CCB Tower for approximately HKD3.473 billion to Jasmine Investment Development IV.
Buyer Information: The buyer is reported to be a subsidiary of JD-SW (09618.HK).
Short Selling Data: There was significant short selling activity with a total of $150.04 million and a ratio of 14.095%.
Trading of LAI SUN INT'L/LAI SUN DEV Shares Suspended Due to Pending Insider Information Disclosure
Trading Halt: Shares of LAI SUN INT'L (00191.HK) and LAI SUN DEV (00488.HK) have been suspended on the Hong Kong Stock Exchange as of 9:13 am today.
Reason for Halt: The trading suspension is pending the release of a joint announcement from both companies, which will contain inside information relevant to each.
Trading of LAI SUN INT'L and LAI SUN DEV Shares Suspended Before Market Opening
Trading Halt: Shares of LAI SUN INT'L and LAI SUN DEV have been halted since 9:13 AM on the 27th, with the reason for the halt currently unknown.
Market Rumors: There are rumors that LAI SUN DEV is planning to sell a 50% stake in the CCB Tower in Central, Hong Kong, with JD-SW reportedly participating in the bidding process.
