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BRIEF-Gemdale Properties and Investment Corp says units entered into capital increase agreement
May 19, 2017 / 10:03 AM / 2 months ago

BRIEF-Gemdale Properties and Investment Corp says units entered into capital increase agreement

1 Min Read

May 19 (Reuters) - Gemdale Properties and Investment Corp Ltd:

* Units of co entered into capital increase agreement with Shanghai Junxu and Shanghai Yuejing

* Parties agreed to increase registered capital of Shanghai Xinwei Real Estate Development by RMB40 million from RMB10 million to RMB50 million

* Group agreed to participate in capital increase by contributing an aggregate amount of RMB20 million

* Group expected that a deemed gain on disposal of approximately RMB1.77 million will be recognized from deemed disposal

* Upon completion of capital increase group's equity interest in target company will be reduced from 92% to 57.6% Source text for Eikon: Further company coverage:

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