New World China Land sells Wuhan property to parent company for HK$408 mln

New World China Land (0917) announced to sell 95% shareholding of its subsidiary joint venture, Xinpeng Wuhan, and all the extra capital of Xinpeng to its parent company New World Development (0017) for HK$408 mln, which will be used for the operation capital and administrative expenditure of developing the property in China.

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