April 3, 2018 / 11:02 AM / 7 months ago

BRIEF-Shimao Property ‍Says Announces Capital Increase In Shimao New Miles

April 3 (Reuters) - Shimao Property Holdings Ltd:

* ‍SHANGHAI SHIMAO, SHIMAO JIANSHE & SHIMAO NEW MILES TO INCREASE REGISTERED CAPITAL OF SHIMAO NEW MILES FROM RMB1.87 BILLION TO RMB16 BILLION​

* UPON COMPLETION OF CAPITAL INCREASE, GROUP’S STAKE IN SHIMAO NEW MILES WILL BE REDUCED TO 70%

* SHANGHAI LONGTING ENTERPRISE MANAGEMENT CENTER TO CONTRIBUTE RMB4.94 BILLION TO SUBSCRIBE FOR 30% OF ENLARGED STAKE OF SHIMAO NEW MILES Source text for Eikon: Further company coverage:

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