On September 26, Colliers International announced that the company proposes to sell up to 3.265 million shares of Landsea Mgmt (00106.HK), representing approximately 9% of the issued and outstanding shares of Landsea Mgmt as of the date of this announcement.
Landsea Homes is registered under the laws of the state of Delaware in usa, and its common stock is listed on the nasdaq. Landsea Homes is mainly engaged in real estate development.
Considering the current market conditions, the Board of Directors believes that the proposed sale will provide the group with the opportunity to cash out its investment in Landsea Homes and increase the group's overall liquidity. Given the uncertainty in the future global economy and considering the group's funding needs, the company sees the potential sale as an opportunity to realize its investment and reallocate resources within the group.