CIFI issues 185 million new shares to world-leading Institutional Investors



Introduce well-known international institutional investors and further optimize the company's shareholder structure

HONG KONG, 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.

 



The issuer is solely responsible for the content of this announcement.
About CIFI (Group):
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

SOURCE:

CIFI Holdings (Group) Co. Ltd.

CATEGORY:

Business

PUBLISHED ON:

08 Jun 2020

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