Leading the package to sell 12 properties, profit 2.79 billion
The Link Exhibition (823) sold 12 properties for 12.01 billion yuan. The buyer was a consortium led by Gem Capital. It is reported that the price of this transaction is 32.1% higher than the valuation at the end of September, and the net income from the sale reached 2.79 billion yuan. The 12 properties for sale include Happiness Property, Lidong Property, etc. It is expected to be completed on March 13, 2019. The proceeds from the sale of the project will be used in Hong Kong and the first-tier cities in the Mainland to find investment opportunities, as well as repayment of debts, repurchase of fund units and so on.
This transaction was initiated by Keye Capital. Gem Capital joined Great Wall Central Asia (583) last year to purchase 17 properties under the Link for RMB 23 billion. Afterwards, Wu Jitai, the president of Kehui Capital, once said that if there is another sale project in the exhibition, the company is still interested.