Shimao's shares fall after Chinese developer says no deal to sell Shanghai plaza

11/1/2022 5:05:00 AM

Shimao's shares fall after Chinese developer says no deal to sell Shanghai plaza

Shimao's shares fall after Chinese developer says no deal to sell Shanghai plaza

HONG KONG : Shares of Chinese property developer Shimao Group Holdings fell 5per cent in early Asian trading on Tuesday after it denied a media report that it has entered into a preliminary agreement to sell a Shanghai plaza.Shimao said in a filing, however, it is in talks with some potential buyers and m

HONG KONG : Shares of Chinese property developer Shimao Group Holdings fell 5per cent in early Asian trading on Tuesday after it denied a media report that it has entered into a preliminary agreement to sell a Shanghai plaza.Shimao said in a filing, however, it is in talks with some potential buyers and may consider disposing off some properties.

(Reporting by Clare Jim; Editing by Muralikumar Anantharaman)

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LinkedIn HONG KONG : Shares of Chinese property developer Shimao Group Holdings fell 5per cent in early Asian trading on Tuesday after it denied a media report that it has entered into a preliminary agreement to sell a Shanghai plaza.LinkedIn SHANGHAI : Shimao Group Holdings has put on sale all of its real estate projects, including both residential and commercial properties, as the cash-strapped Chinese property developer accelerates asset disposals, Caixin reported.LinkedIn China's Shimao Group Holdings said on Tuesday it was in talks with potential parties and may consider selling some properties to reduce its debt, a day after reports said it had put all of its real estate projects on sale.LinkedIn SHANGHAI : Shimao Group Holdings has put on sale all of its real estate projects, including both residential and commercial properties, as the cash-strapped Chinese property developer accelerates asset disposals, Caixin reported.

Shimao said in a filing, however, it is in talks with some potential buyers and may consider disposing off some properties. (Reporting by Clare Jim; Editing by Muralikumar Anantharaman) Source: Reuters . The company didn't immediately respond to a request for comment.