August 4 -- Beijing Wangfujing Department Store (600859) intends to spend 790 million yuan in cash to acquire a shopping center in the northern part of Xian, Shaanxi province, from Shaanxi Saigao Investing Management, reports stcn.com, citing a company filing.

The shopping center covers an area of 90,200 square meters and is currently under construction.

According to the company, the acquisition cost is relatively low and the shopping center has good potential for future growth.

Shares of the company rose 0.95 percent to trade at 43.5 yuan at 10:48 today.

Source:CapitalVue