Shanghai International Airport (SHA:600009) plans to sign a compensation agreement with its parent, Shanghai Airport Group, and the Pudong Housing Expropriation Office for the reclamation of state-owned land to support the phase four expansion of Pudong Airport.
The assessed compensation totals 495.6 million yuan, including land fees of 387.1 million yuan and facilities compensation of 108.5 million yuan, according to a filing with the Shanghai bourse.
The signing of the deal is subject to shareholder approval.
Shares of he airport operator were down 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments