Dong Shin Construction Sold Their Real Estate Division in Australia and the United States to America Time East Media Group.Business Editors SEOUL, South Korea--(BUSINESS WIRE)--Dec. 13, 2001 Dong Shin Construction Co., Ltd, a publicly listed company listed company n → compañía cotizable listed company n → société cotée en Bourse listed company list n → in Korea, announced today that it sold its real estate division in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Australia to America Time East Media Group, also a publicly listed company (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AEMG AEMG Asociación de Escritores Mayances de Guatemala (Mayan Writers' Association of Guatemala) ). The United States Real Estate Division owns a resort and country club property: "The Reserve Vineyards and Golf Club" in Aloha, Oregon. The real estate division in Australia, Dong Shin sold fifty percent of its controlling to America Time East Media Group which owns a piece of prime land in the heart of Sydney, Australia eligible for development of a shopping mall and a tower block of apartments sitting on the podium of the shopping mall. Dong Shin will undertake the construction of the development in Sydney, Australia. Dong Shin has entered a merger agreement with New Eastern Group, which is a wholly owned real estate subsidiary division of America Time East Media Group. New Eastern Group will be renamed AEMG Dong Shin Developments & Investments. Under the merger agreement, America Time East Media Group has agreed with Dong Shin to consolidate its assets in real estate in the United States, Korea and Asia. AEMG Dong Shin Developments & Investments intends to initiate an Initial Public Offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) and also to file an application for its common stock to be listed on Nasdaq National Market in the first quarter of 2002. AMEG AMEG Association for Measurement and Evaluation in Guidance Dong Shin will continue its principal businesses in real estate developments and investments in the United States, China, Hong Kong, Australia and Korea. |
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