China International Marine Containers' (HKG:2039, SHE:000039) subsidiary, Shenzhen CIMC Innovation Industrial Development, plans to purchase 188 residential units for 293.2 million yuan, according to a Shenzhen bourse filing on Friday.
The units, which are located in Songshan Lake, Dongguan, China, will be used as accommodation for CIMC Innovation Industrial's employees.
The units will be bought from Shenzhen Chenyu Investment Development, an associate of the company.
The transportation equipment manufacturer's Hong Kong shares jumped less than 7% and Shenzhen shares climbed over 5% during the morning 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