Fosun Tourism Group to Dispose Properties for 394 Million Yuan

MT Newswires Live09-30

Fosun Tourism Group (HKG:1992) units will sell four plots of land with a combined area of 95,363.5 square meters for about 393.6 million yuan, a Sunday filing with the Hong Kong Exchange said.

The company's units, Yuehao (Taicang) Tourism and Cultural Development and Yueou (Taicang) Tourism and Culture Development, will sell the plots to Taicang Hengzhu Real Estate and Taicang Hengze Cultural Tourism Development, the filing said.

The resort operator plans to use the proceeds for the payment of funds related to its Taicang Alps Resort project.

The company's shares closed over 10% higher on Monday.

Price (HKD): $4.55, Change: $+0.43, Percent Change: +10.44%

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