CHINA: TWO REAL ESTATE FIRMS SEEK FOR LISTINGS
Article Abstract:
Some RMB 402.4 mn will be gathered by Beijing Tianhong Baoye Real Estate through offering of 40 mn shares. After issuance of these Class-A shares that have unit price of RMB 10.40, shares of the Chinese real estate firm will be traded on Shanghai Stock Exchange. Another Chinese counterpart of the firm, Goldfield Industries (Goldfield), is also seeking for public listing on the same bourse. Each of 90 mn Class-A shares to be released by Goldfiled will be priced at RMB 9.42. A combined sum of RMB 829.3 mn (HK$ 777 mn) may be pooled in by Goldfield. Together with Tianjin Real Estate Development Corp, the 2 aforementioned companies have been given the go-ahead for listings by Chinese Ministry of Construction. Hong Kong-based Shum Yip and Chinese firm, Shenzhen Futian Investment will subscribe 18.67% and 24.15% of shares to be released by Goldfield, respectively.
Publication Name: Daily Herald (Arlington Heights, IL)
Subject: News, opinion and commentary
ISSN:
Year: 2001
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HONG KONG: SALES RUSH BY LOCAL DEVELOPERS
Article Abstract:
Several Hong Kong property developers are planning to push for sales in their properties before the arrival of the Chinese New Year holiday season in 2001. They will be offering their properties at discount prices in a bid to lure consumers into buying them. Hang Lung Development and Cheung Kong (Holdings) are two of the developers participating in the sales rush. On 13 January 2001, Cheung Kong will be introducing up to 10 property units in Ma On Shan. On the same day, another developer, Wharf (Holdings) will also be introducing 10 units in Tsuen Wan. Wharf will be subsidising part of the mortgage on the properties in order to provide an equivalent 5% discount on the prices.
Publication Name: Daily Herald (Arlington Heights, IL)
Subject: News, opinion and commentary
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Year: 2001
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HONG KONG: HONGKONG LAND SEEKS HK$ 3BN LOAN
Article Abstract:
Hongkong Land has arranged a HK$ 3bn syndicated loan to fund its working capital. The loan will be divided in two tranches, with one HK$ 2bn five-year loan, and another HK$ 1bn seven-year loan. The HK$ 2bn loan will have an interest rate of 47 basis points above HIBOR, and the HK$ 1bn will have a rate of 55 basis points above HIBOR. Hongkong Land said the loan was not to fund the US$ 572mn share buy-back scheme.
Publication Name: Daily Herald (Arlington Heights, IL)
Subject: News, opinion and commentary
ISSN:
Year: 2001
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