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Chunlai Education Buys Land for $28 Million to Build New College in China's Jiangsu Province

MT Newswires ·  {{timeTz}}

02:37 AM EST, 12/17/2021 (MT Newswires) -- China Chunlai Education Group (HKG:1969) is preparing to build a new school campus near Tianping College in Nanjing, a city in China's Jiangsu province.

The school operator said in a Friday disclosure that it struck a deal to purchase 50-year use rights to a land parcel in Nanjing with a site area of 315,732 square meters for 180 million yuan ($28.3 million).

Chunlai Education said the "abundant capacity" of the land provides a good foundation for the new school campus it plans to build there, which is tentatively named Nanjing College.

The stock was marginally down in recent trade.

Price (HKD): $1.77, Change: $-0.01, Percent Change: -0.56%

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