One More Disposal Lifts Soho China's Share Price, but only in the Short Term
Soho China announced it will dispose Hongkou Soho for CNY 3,573 million to an independent third party. The sale price represents a 3.6% premium to the asset’s book value. The asset accounts for 6% of the company’s rental income in 2016. As Soho China trades near half of its book value, the share price reacted positively to the news of the disposal. However, the company is expected to maintain its core portfolio of assets, the discount to book will persist. Given the small premium over book and t...Soho China is engaged in property development and property investments. Co. operates within three segments: completed projects held for sale; completed investment properties; and projects under development.
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