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Perennial Real Estate shares up slightly on news of China hospital services JV

PC Lee Published on Wed, Jun 08, 2016 / 1:23 PM GMT+8

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SINGAPORE (June 8): Shares of Perennial Real Estate Holdings are up 0.5% at 93 cents on news the property developer will take an 81.6% stake in joint venture company St Stamford International Medical for RMB 286.70 million ($59 million).

The investment is part of Perennial Real Estate's plans to jointly invest, develop and manage hospital services across China.

The remaining stake of 18.4% in the joint venture company will be held by Boai International, a unit of China Boai Medical Group.

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