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3 months ago
BRIEF-Yunnan Metropolitan Real Estate plans funds, asset acquisition, scraps private placement
May 19, 2017 / 9:18 AM / 3 months ago

BRIEF-Yunnan Metropolitan Real Estate plans funds, asset acquisition, scraps private placement

May 19 (Reuters) - Yunnan Metropolitan Real Estate Development Co Ltd

* Says it plans to invest up to 2.5 billion yuan ($362.86 million) to set up urbanization buyout fund with partners

* Says it plans to set up fund worth 8.0 billion yuan with Bank of Jiujiang

* Says it scraps 2016 share private placement plan

* Says it plans to acquire stakes of eight property companies for a combined 2.6 billion yuan via cash

Source text in Chinese: bit.ly/2q32O0k; bit.ly/2qyfLCS; bit.ly/2qDyfAe; bit.ly/2rybnlC

Further company coverage: ($1 = 6.8898 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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