moomoo ID:0
Log Out
  • English
  • 中文繁体
  • 中文简体

Oceanwide's $23 Million Sale of Hawaii Property Falls Through; Hong Kong Shares Rally 24%

MT Newswires ·  05/17/2022 11:23

11:21 PM EDT, 05/16/2022 (MT Newswires) -- China Oceanwide Holdings (SHE:000046, HKG:0715) has abandoned its planned $23.3 million sale of a property in Hawaii, the Chinese property developer said in a bourse filing on Friday.

The company agreed to sell the 19.1-acre lot in Kapolei in Honolulu, Hawaii, in December 2021 to Hawaii-based Alaka'i Apartments.

In late March, Oceanwide said it will dispose of assets that are not generating immediate revenue including the Hawaii property.

Most recently, the buyer decided to terminate the agreement after it conducted due diligence. Oceanwide will then return the deposit that Alaka'i Apartments had paid for the deal.

Shares of the company rallied nearly 24% in Hong Kong trading Tuesday morning, while its Shenzhen-listed shares fell over 1%.

Price (HKD): $0.06, Change: $+0.01, Percent Change: +24.44%

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites and Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.