LONDON (Alliance News) - Property-focused investment company Pacific Alliance China Land Ltd said it will propose the winding up of the company "in due course" following the disposal of its last asset.
The company invests in existing properties, new developments, distressed projects, and real estate companies in Greater China. It said that USD7 million of registered capital has been repatriated from the investment structure used for Project Beijing Olympic.
As a result, the company has disposed of all of its assets, and under AIM rules now has a period of 12 months to start an orderly wind up of the fund and cancel its shares.
Shares in Pacific Alliance China were untraded on Thursday, last quoted at USD2.54.