Gree Real Estate (SHA:600185) intends to sign a custody agreement with controlling shareholder Haitou Co., according to a Nov. 23 filing with the Shanghai bourse.
Under the trusteeship, Haitou will trust its 100% equity in Shanghai Baolian, Shanghai Helian, Shanghai Tailian, Sanya Helian, Chongqing Liangjiang and Fenghuang Shengjing as well as 77% equity in Xinshengjing to Gree Real Estate.
Shares of the real estate developer rose 10% in recent trade.
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