Introduce well-known international institutional investors and further optimize the company's shareholder structure

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.

 

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