Shanghai Jin Jiang International Hotels Development announces private placement


Friday, 13 Jun 2014 08:00pm EDT 

Shanghai Jin Jiang International Hotels Development Co Ltd:To issue up to 201,277,000 A shares of its common stock through private placement, at no less than 15.08 yuan per share.Says 100,000,000 new shares will be issued to Shanghai-based investment funds centre and the other 101,277,000 new shares will be issued to Shanghai Jin Jiang International Hotels (Group) Company Limited.To raise up to 3,035,257,160 yuan in total.Says the proceeds raised will be used for supplement of the company's main business and repayment of short term bank loans.