Reading International reports sale of Wellington Assets in NZ
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Reading International, Inc. (NASDAQ: RDI) has announced the sale of its Wellington, New Zealand properties to Prime Property Group for NZ$38 million, expected to close in Q1 2025.
January 14, 2025 | 2:15 pm
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Reading International has entered into an agreement to sell its Wellington, New Zealand properties for NZ$38 million. This divestment is part of the company's strategy to optimize its asset portfolio.
The sale of the Wellington properties is a significant move for Reading International as it aligns with their strategy to optimize their asset portfolio. The transaction is expected to provide liquidity and potentially improve financial stability, which could positively impact the stock price in the short term.
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