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.
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