Friday, 11 December 2015

Today's SGX Stock Update: Global Logistic Properties acquired investment of 15.5 percent equity stake in China

SGX Stocks News: Global Logistic Properties (GLP) has finished its vital speculation of a 15.5 percent value stake in China Materials Storage and Transportation Development Company (CMSTD).

The 15.5% stake in CMSTD was for Rmb2 billion speaking to a 43 percent markdown to the last executed cost of CMSTD shares on the Shanghai Stock Exchange on 9 December 2015. The exchange helped GLP's NAV by $0.05 pennies per offer. Also GLP will set up an advancement joint endeavor with CMSTD, which is required to contribute over Rmb3.6 billion to create 1.3 million square meters of buildable region crosswise over China on 2.6 million square meters of area region. Altogether, GLP will access CMSTD's territory assets of more than 9 million square meters.

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