Shares in Metro rise on sale of China property

SINGAPORE (Aug 16): Shares in Metro Holdings on Wednesday closed 7 cents or 6.2% higher at $1.20 on a surge in volume to 4.55 million shares.

The reason, market watchers say, is because Hong Kong-listed Mainland developer Top Spring International Holdings on Tuesday announced that it was in the process of selling some assets.

Top Spring is selling for HK$15.32 billion ($2.7 billion) eight properties at various stages of development in six cities in China with a net saleable/leasable GFA of 1.97 million sq m.

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