Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Reuters Investment Profile
$20.00
Provider: Wright Reports
$75.00
Provider: Thomson Reuters Stock Report
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

The Hong Kong Parkview Group Ltd Announces Substantial Acquisition, Placing And Proposed Name Change


Monday, 23 Sep 2013 06:10pm EDT 

The Hong Kong Parkview Group Ltd announced that on September 23, 2013, the Company (as the purchaser), COFCO Land (as the seller) and Achieve Bloom (the holding company of COFCO Land, as the warrantor) entered into the Acquisition Agreement pursuant to which the Company has conditionally agreed to acquire, and COFCO Land has conditionally agreed to sell, the Sale Shares (representing COFCO Land's equity interest in the Target Companies) and the Shareholders Loans (representing all the outstanding loans owing by the relevant members of the Target Group to COFCO Land immediately before Completion). Achieve Bloom has undertaken to the Company to procure the performance by COFCO Land of its obligations under the Acquisition Agreement. The aggregate consideration for the Acquisition shall be HKD14,167 million. In connection with the Acquisition, the Company proposes to conduct the Placing to issue and allot not more than 2,320,268,000 Placing Shares at the Placing Price to professional and institutional investors which will become public shareholders of the Company. The Placing, if materialised, is expected to complete simultaneously with the Completion. All the proceeds from the Placing shall be retained by the Company for the Enlarged Group’s future operations and project developments. Subject to approval by the Shareholders at the SGM, the Company proposes to change the English name of the Company from 'The Hong Kong Parkview Group Ltd' to 'COFCO Land Holdings Limited'. 

Company Quote

1.36
-0.01 -0.73%
10:55pm EDT