Property developer Agile Group Holdings Ltd. (3383.HK) said on Thursday that its Xintao Eco Technology subsidiary has agreed to sell several of its fixed assets, including land, factories, equipment, pipeline networks and construction-in-progress, to Yifeng Huachuang for cash.
Agile said the sales will help to improve its short- and long-term asset allocation, unlock the assets’ full potential, enhance its cash flow and mitigate debt risks.
Shares of Agile opened flat at HK$0.275 on Friday. The stock is down 62% from its 52-week high.
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