Road stake for Century City

Hotel and property developer Century City Holdings has bought a 34.44 per cent interest in the Chengdu Mianyang Expressway previously held by New China Hong Kong Highway. The stake was bought through wholly owned subsidiary Evercheer Holdings. In return, 106.4 million shares in Paliburg Holdings have been transferred to New China at $6.50 per share. This would reduce Century City's stake in Paliburg Holdings to 69.16 per cent from 73.75 per cent.