Rivera offset debts by deposit of 9% stake in Pudong Development

Rivera (0281) announced to sell approximately 97.66mln shares in Pudong Development (0258) to Tong Cun-lin, the executive director and major shareholder of the company, at HK$0.95 each, 2.2% higher than closing price of last Friday for HK$92.78mln. After depositing of stake in Pudong Development, Rivera will record a book loss of about HK$194mln.

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