Jimmy Lai’s Next Digital sells Taipei property for US$61 million
- Building in Neihu district sold for HK$475.8 million to a Taiwanese software developer
- The company has already sold four office buildings in Taipei since 2018
Next Digital, which owns the Apple Daily newspaper, is selling an office building in Taipei, it said on Tuesday. The sale comes after its founder, media tycoon Jimmy Lai Chi-ying, was charged with fraud in a case that has drawn international attention.
The company will sell the building in Neihu district for HK$475.8 million (US$61 million) to a Taiwanese software developer, it said in a filing to the Hong Kong stock exchange.
The sale “will improve the overall cash position of the group for general working capital purposes, as well as for future opportunities that may arise”, it said in the filing. The building, constructed by Next Digital in 2010, has 15,323 square metres of gross floor area, as well as 92 car parking spaces.
01:23
Hong Kong media mogul Jimmy Lai denied bail in fraud case and ordered to remain in jail
Lai was earlier arrested in a high-profile police operation that involved 200 officers raiding Next Digital’s offices in August.
The operation and charges against Lai sparked concern in Hong Kong and beyond that the city was cracking down on activists and government critics after Beijing imposed a new national security law on the city in June.
He was, however, not charged with colluding with foreign forces, an offence under the law that was cited during the arrest in August.
Lai and the executives will appear before court on April 16 next. Lai has been detained until the hearing.
01:21
Police escort Apple Daily founder Jimmy Lai to his yacht after his arrest on security law charges
The stock closed 3.7 per cent higher at HK$0.25 on Tuesday.
