CapitaLand divests stake in HK-listed CCRE for HK$2.83b

Singapore

CAPITALAND has entered into an agreement to sell its entire 24.09 per cent stake in Hong Kong-listed Central China Real Estate (CCRE) to CCRE shareholder Joy Bright Investments for about HK$2.83 billion (S$496 million).

At HK$2.83 billion, this works out to HK$4.30 per share; CCRE last traded at HK$3.45 per share on June 28.