This brings OUE's stake in GPI from 25.88% to 29.07%.
As at Dec 31 2024, GPI had an NTA of HK$1.14 per share.
OUE says the acquisition has no material impact on its own NTA, which was $4.16 as at Dec 31 2024.
OUE says the current share price of GPI does not fully reflective of China's and Gemdale's long-term potential in the country's real estate sector.
The further investment allows OUE to "maintain access and exposure" to the real estate market in China and provide itself a continued opportunity to leverage on future potential collaborations and partnerships with the GPI group.
OUE shares closed at 95 cents on May 9, up 0.53% for the day but down 6.86% year to date.
GPI shares closed at 27 HK cents on May 9, down 3.64% for the day and down 5.36% year to date.
