Nan Hai Corporation (00680) said it agreed to acquire 27% equity interest in Listar Properties Limited as well as shareholder's loan at Rmb576 million.
Listar's principal business is an investment holding company which through its subsidiaries controls a property project namely "Free Man Garden" located in Xinhua Street, Huadu District, Guangzhou, the PRC, having gross floor area of about 1.033 million square metres in aggregate.
Nan Hai Corporation currently holds 43% shareholding of Listar.
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