February 27, 2017 / 2:05 AM / 9 months ago

BRIEF-Kunming Sinobright plans to acquire Beijing's property agency firm for 6.56 bln yuan

Feb 27 (Reuters) - Kunming Sinobright Group Co Ltd

* Says it plans to acquire 94 percent stake in property agency firm, Beijing 5i5j Real Estate Brokerage Co Ltd, for about 6.18 billion yuan ($898.54 million) via cash, share issue

* Says it plans to sign share transfer agreement to acquire the remaining 6 percent stake in Beijing 5i5j for 378.0 million yuan

* Says it plans to raise up to 2.5 billion yuan in share private placement to fund acquisition, projects

Source text in Chinese: bit.ly/2lKJmFi; bit.ly/2mkIoTa

Further company coverage: ($1 = 6.8778 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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