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Shanghai Zendai Property Ltd Announces Issue Of New Shares Under General Mandate


Friday, 21 Jun 2013 06:25am EDT 

Shanghai Zendai Property Ltd announced that it has agreed to allot and issue to Concord Emperor, the Concord Emperor Subscription Shares (being 1,571,000,000 new Shares) at the Subscription Price (being HKD0.14 per Concord Emperor Subscription Share). The Company also announced that it and Greenwoods entered into Greenwoods Subscription Agreement pursuant to which Greenwoods has agreed to subscribe for or procure subscription for, and the Company has agreed to allot and issue to Greenwoods or one of the funds of which it is the manager, the Greenwoods Subscription Shares (being 871,000,000 new Shares) at the Subscription Price (being HKD0.14 per Greenwoods Subscription Share). The Subscription Shares (being 2,442,000,000 new Shares) represent approximately 19.63% of the issued share capital and approximately 16.41% of the issued share capital of the Company as enlarged by the allotment and issue of the Subscription Shares. The Subscription Price represents a discount of approximately 2.10% to the closing price of HKD0.143 per Share as quoted on the Stock Exchange on June 21, 2013, being the date of the Subscription Agreements; a discount of approximately 6.04% to the average closing price of HKD0.149 per Share as quoted on the Stock Exchange for the last five consecutive trading days up to and including June 21, 2013. It is expected that net proceeds from Subscriptions will amount to approximately HKD341,700,000 and will be used for property acquisitions and development. 

Company Quote

0.108
0.0010 +0.93%
24 Oct 2014