[ET Net News Agency, 29 July 2019] Redsun Properties Group Limited (01996) said its
subsidiary Xuzhou Hongshuo has agreed to acquire 100% equity interest in Xincheng Yihui at
a total consideration of RMB552.91 million. Its subsidiary Xuzhou Hongyao has agreed to
acquire 60% equity interest in Xincheng Hongyang at a total consideration of RMB1.16
billion.
Xincheng Yihui is principally engaged in real estate development. The principal asset of
Xincheng Yihui is the land use rights of a piece of land designated for residential uses
and located in Xuzhou City, Jiangsu Province, the PRC. It has an expected aggregate GFA of
106,949.63 sq.m.
Xincheng Hongyang is principally engaged in real estate development. The principal asset
of Xincheng Hongyang is the land use rights of a piece of land designated for residential
uses and located in Xuzhou City, Jiangsu Province, the PRC. It has an expected aggregate
GFA of 279,508.70 sq.m. (RC)
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01996 RSUN PPT
Nominal 
0.047 0.000 (0.000%) Disclosure of Interest
29/07/2019 15:32
Redsun PPT (01996) to buy two Xuzhou lands at RMB1.71bn
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