Financial News
Written by: Huang Haolin
2020-07-21 10:30
Last update date: 2020-07-21 10:30Lippo (0226) and its Hong Kong Chinese (0655) issued a joint announcement that OUE Limited, a joint venture subsidiary of the two parties, was listed on the main board of the Singapore Exchange Securities Trading Limited and announced the sale of US Bank Tower in Los Angeles, California at a consideration of 4.3 Billion US dollars (about 3.354 billion yuan).
According to the information currently available to Lippo and the Hong Kong Chinese, the Hong Kong Chinese is estimated to have a share of the joint venture loss of about 600 million yuan from the sale before the completion of the sale, and the Lippo Group will share the share of the joint venture accordingly The loss was about 440 million yuan.
OUE Limited believes that the sale of the property will allow the OUE Group to increase its cash reserves, improve its net capital liabilities and reinvest its capital to seek higher growth investment opportunities.
Listed company