Changshi (01113) intends to purchase the remaining 40% of Shanghai’s large commercial real estate project “High-tech Field” from the joint venture partner China Herun Group
In response to the rumors, Changshi said that The company is interested in doing research. In fact, the company has a preemptive right.
According to the data, “Gao Shangqu” is located in Putuo District, Shanghai, with a total construction area of about 1.17 million cubic meters (about 12.6 million square feet), including shopping malls, office buildings, residential buildings, serviced residences, and hotels. Run Group acquired the site at a base price of RMB 2.2 billion, and Changshi held 60% of the equity, and Herun held 40% of the equity.
In May last year, an internal media pointed out that Changshi intends to sell 60% of the equity and that the project has a valuation of about 20 billion yuan
Changshi responded and acknowledged that it had received a bid proposal, but emphasized that “it does not mean that the company accepts or will sell the project rights and interests”.
In recent years, Changhe has often been rumored to withdraw its capital. At the annual party of the Yangtze River Group, some media asked if Changhe would return to the Mainland
At that time, Chairman Li Zeju responded with domineering and said that Changshi “has never left, and returned to the same?”