Forte Land purchases RMB 150-mln in property from Fosun Int'l

Published: 23 Apr 2009 19:23:09 PST

Apr. 24, 2009 (China Knowledge) - Shiner, a wholly-owned subsidiaryof Shanghai Forte Land Co Ltd<2337>, acquired two pieces of undeveloped land for RMB 150.21 million in total from Fosun International Ltd<656> on Apr. 21, sources reported.

The two mixed-use properties, located in Hangzhou, Zhejiang Province, cover a total land area of 93,700 square meters (sq m) and a total potential floor area of 234,185 sq m.

Fosun Int'l owns a 70.56% stake in Forte Land.

Reportedly, Forte Land announced on Apr. 9 that it had obtained approval to offer corporate bonds worth RMB 1.9 billon.

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