TOMSON Pacific has raised $67.5 million through the sale of shares in a Macau construction company to Sociedade De Construcao Investimento E Fomento Predial Viron.
Funds raised will go towards development projects in China, if the purchase of these assets from World Trade Centre Group is successful.
The Macau firm is undertaking the reclamation and development project at Praia Grande Bay - also in Macau - where construction work for the first phase has already kicked off.
The site is to be turned into a complex including hotels, office and residential blocks, government buildings, a convention centre and shopping areas.
Tomson sold the shares through subsidiary Tomson Investment, which held 18,000 shares in Sociedade de Empreendimentos Nam Van, 2.25 per cent of its issued share capital.
Of the $67.5 million price, a $10.12 million deposit has already been lodged with solicitors and will go to Tomson on completion of the agreement.