16th Jul 2020 18:24
Aseana Properties Ltd - Malaysian & Vietnamese property developer - Agrees to demerge certain assets in exchange in for the buyback and cancellation of about 50% of issued share capital. Buying back shares owned by Ireka Corp Berhad and its concert party Legacy Essence. The assets that will be distributed will be the RuMa Hotel and Residences in Kuala Lumpur, one of three plots of adjacent land owned by the Aseana in Kota Kinabalu and the residual projects from past developments. Aseana said it requires 66% of shareholders to approve the deal.
Current stock price: 0.33 pence
Year-to-date change: down 25%
By Paul McGowan; [email protected]
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