STOCKS | Yuzhou Sells Central Plaza Units for HK$269 Million, Expects HK$83 Million Loss

Yuzhou Group (1628) said it will sell units 5801, 5802, 5803, 5805, 5806 and 5813 on the 58th floor of Central Plaza for about HK$269 million to Xin Yao Co Ltd, which is held by Xu Yanling. According to Ming Pao, after completion the group will no longer hold the property as an asset and expects to record an unaudited loss of about HK$83.02 million. Net proceeds, after estimated transaction costs and expenses, are expected to be about HK$268 million and will be used to repay debt.