Introduce well-known international institutional investors and further optimize the company's shareholder structure
CHINA - Media OutReach - 8 June 2020 - CIFI Holdings (Group) Co. Ltd. ("CIFI" or the "Group", HKEx
stock code: 884), a leading real estate developer engaged in the property
development and investment business in the first-, second- and robust
third-tier cities in China, announced that the Group issues 185 million new
shares to a number of well-known international institutional investors and
long-term funds, aiming to optimize the company's shareholder structure. Substantial
majority of the 185 million shares were subscribed by a world leading institution.
The placing price is HK$6.28 per share. It is only
1.26% discount to the closing price of previous trading day and has a premium
over the average price of previous ten trading days, reflecting the confidence
of institutional investors in CIFI.
The net proceeds of the placing are approximately
HK$1,153 million, which the Group intends to use the proceeds for development
of projects and as working capital and general corporate purposes.
About CIFI (Group):
Headquartered in Shanghai, CIFI is one of China's top real estate
developers. CIFI principally focuses on developing high-quality properties in
first-, second- and selective third-tier cities in China. CIFI develops various
types of properties, including residential, office and commercial complexes.
To learn more about the Company, please visit
CIFI's website at: http://www.cifi.com.cn