Date
24 October 2017

CITIC Real Estate selling stakes in some firms, report says

CITIC Real Estate has put up for sale a 51 percent stake in Shanghai Shengbo Real Estate Development Co., the China Securities Journal reported Sunday. The stake has been put on the block at the China Beijing Equity Exchange (CBEX), in a deal worth 493 million yuan (US$80.91 million). Shanghai Shengbo has a registered capital of 41.02 million yuan. Meanwhile, CITIC Real Estate (Hong Kong) Development Ltd. is offering a 55 percent stake in CITIC Real Estate (Huangshan) Co. Ltd. for sale at 68.46 million yuan, the report said.

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