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2007-7-4 12:08:00 p.m. HKT, XFNA
Hong Kong's Yu Ming Investments to sell entire stake in Honnex for 372 mln hkd
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HONG KONG (XFN-ASIA) - Yu Ming Investments Ltd said it has agreed to sell
its entire 61.22 pct stake in Honnex Development Ltd to Well Harvest
Properties Ltd for 372 mln hkd.
Honnex's main investments are retail properties in Hong Kong, including
the Argyle Centre and Ginza Plaza in Mongkok, and Timeplus in Causeway
Bay.
Yu Ming said the net proceeds, which are estimated at 371 mln hkd, will
be used for other investment opportunities.
At 12 noon, Yu Ming was up 0.015 hkd or 3.09 pct at 0.50.
roby.lau@xfn.com
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