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.
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
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