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Even Though Langold Real Estate (SZSE:002305) Has Lost CN¥451m Market Cap in Last 7 Days, Shareholders Are Still up 10% Over 1 Year
Langold Real Estate (002305.SZ): The controlling shareholder is merging with its concerted actors.
Gelonghui November 19th, Langold Real Estate (002305.SZ) announced that it recently received a notice from the company's controlling shareholder, Power Construction Corporation of China, Ltd (referred to as "Power Construction Real Estate"), regarding the merger of Wuhan Xintiandi Investment Co., Ltd by Power Construction Real Estate. Power Construction Real Estate intends to merge its wholly-owned subsidiary and concerted action party Wuhan Xintiandi Investment Co., Ltd (referred to as "Wuhan Xintiandi"). After the completion of this merger, Wuhan Xintiandi will apply for dissolution and cancellation, and at the same time, will hold 313,215,984 shares of the company's stocks (accounting for 18% of the total share capital) will be dissolved.
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