BRIEF-Applied Development Holdings Announces Disposal Of Shares In Redsun Properties

Aug 15 (Reuters) - Applied Development Holdings Ltd :

* ANNOUNCES DISPOSAL OF SHARES IN REDSUN PROPERTIES FOR HK$101.8 MILLION

* UNIT ENTERED AGREEMENT WITH FORTUNE ELITE FOR DISPOSAL OF 1.11% OF REDSUN PROPERTIES SHARES

* EXPECTS GAIN OF HK$17.39 MILLION IF SHARES ARE DISPOSED AT MAXIMUM PRICE OF HK$2.75 WITHIN RANGE Source text for Eikon: Further company coverage: