Joy City Announces Consumer Infrastructure REIT Spin-off

Joy City Property Limited (HK:0207) has released an update.

Joy City Property Limited is set to spin off its Consumer Infrastructure REIT with a separate listing on the Shenzhen Stock Exchange, reducing its indirect interest in the project to 40% from 100%. The spin-off will be treated as a major transaction, meeting the requirements for shareholder approval, which has been secured from Grandjoy Holdings Group, holding a 64.18% share. Due to legal constraints in the PRC, the company has been granted a waiver from providing existing shareholders with assured entitlement to REIT units.

For further insights into HK:0207 stock, check out TipRanks’ Stock Analysis page.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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