CIFI issues 185 million new shares to world-leading Institutional Investors

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

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.


News Source: MediaOutreach



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