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CHINA JINMAO's subsidiary is listing its hotels for sale at RMB 2.265 billion
CHINA JINMAO (00817.HK) announced that its wholly-owned subsidiary, Shanghai Jinmao, intends to sell its 100% equity stake in Jinmao (Sanya) Tourism Co., Ltd. for the purpose of asset securitization, and has publicly listed it on the Beijing Property Exchange, with a listing price of approximately RMB 2.265 billion.
The company stated that the target company primarily holds the Ritz-Carlton Hotel in Yalong Bay, Sanya, which is a five-star hotel that opened in 2008 and has 446 guest rooms and suites
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