Red Star Macalline (01528) rose more than 9% in early trading, as of the time of publication, up 7.77% to HK$2.08, with a turnover of 21.5772 million Hong Kong dollars.
According to the Wise News APP, Red Star Macalline (01528) rose more than 9% in early trading, gaining 7.77% to HK$2.08 as of the time of publication, with a turnover of 21.5772 million Hong Kong dollars.
On the news front, Red Star Macalline announced that on November 26, 2024, Chengdu Macalline entered into a management agreement with Jianfa Real Estate Management, whereby Chengdu Macalline commissioned Jianfa Real Estate Management to provide pre-opening, investment operation, and post-opening management services for MKL Lifestyle Aesthetic Center as a shopping center commercial project.
In addition, on the evening of November 8th, Red Star Macalline announced its intention to collectively use its Beijing Zun MALL property assets and the Red Star Macalline Building Materials and Home Furnishings Life Mall in Yantai, Shandong Province as underlying assets. This will be done through raising funds from qualified investors and establishing an asset support plan, with an issue size not exceeding 2.75 billion yuan and a term not exceeding 18 years. Public data shows that both underlying assets have been running losses since last year.