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Zhong An Real Estate Ltd Announces Proposed Spin-Off And Separate Listing Of China New City Commercial Development Limited On The Main Board Of The Stock Exchange Of Hong Kong Limited

Monday, 30 Sep 2013 07:21am EDT 

Zhong An Real Estate Ltd announced that with reference to the announcement made earlier in relation to the Proposed Spin-off, On 13 June 2013, the Company submitted a spin-off proposal to the Stock Exchange pursuant to PN15 in relation to the Proposed Spin-off of China New City. On September 30, 2013, China New City submitted a listing application form (Form A1) to the Stock Exchange for an application for the listing of, and permission to deal in, the China New City Shares on the Main Board of the Stock Exchange. While the Company had not yet obtained the approval from the Stock Exchange on the Proposed Spin-off at the time of China New City submitting the listing application, the Stock Exchange did not object on the submission of the listing application by China New City. The China New City Group, which is the subject of the Proposed Spin-off, will include certain existing subsidiaries of the Company which are principally engaged in the development of, sales of and investment in, commercial properties in sub-city centers of second-tier cities in the YangtzeRiver Delta Region, the PRC. Following completion of the Proposed Spin-off, the Company‚Äôs percentage holding in the issued share capital of China New City will be reduced although it is intended that China New City will remain as a subsidiary of the Company. 

Company Quote

-0.03 -2.56%
19 Dec 2014