ITC Properties to Divest Subsidiary Holding 250 Hennessy in HK$168.7 Million Deal
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ITC Properties Group Limited has agreed to sell its entire equity interest in Success Well Investment Limited, which owns the commercial property 250 Hennessy in Wanchai, Hong Kong, for a maximum of HK$168.7 million. The deal is based on a property value of HK$410 million, minus an outstanding mortgage of HK$241.3 million. This transaction is classified as a discloseable transaction under Hong Kong listing rules and is subject to certain conditions. Shareholders are advised to exercise caution regarding the company's shares. The latest analyst rating for ITC Properties is a Sell with a price target of HK$1.00.
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