HONG KONG, June 7, 2017 /PRNewswire/ -- Jiayuan International Group Limited ("Jiayuan International" or the "Group"; SEHK stock code: 2768.HK), a China's established property developers of both large-scale residential and integrated commercial complex projects, announced that the Group will raise HK$1,167 million by way of top up placement of up to 352,500,000 existing shares at HK$3.35 per share. The net proceeds raised will be primarily used for acquisition of land bank and general working capital.
Haitong International Securities Company Limited and Huarong International Securities Limited will be the placing agents of such placement.
The placing price represents a discount of approximately 11.61% to the closing price of HK$3.79 per share quoted on the Stock Exchange on 6 June 2017. The number of placing shares represent approximately 18.88% of existing issued share capital of the Company and 15.88% of the issued share capital of the Company post-subscription.
The placement was welcomed by institutional investors and will increase the Company's float to 39.19% upon completion.
Mr. Shum Tin Ching, Founder and Chairman of Jiayuan International said, "The reception of such placement was positive and fully reflects the optimism of institutional investors over Jiayuan International's outlook. The proceeds raised will further enlarge our shareholder and capital base, which will provide us with adequate capital for land bank acquisition."
About Jiayuan International
Jiayuan International is an established property developer of large-scale residential and integrated commercial complex projects in different major cities in the PRC. With over 20 years of experience in property development, The Group provide different property projects through comprehensive planning, high quality control, sophisticated operating systems and experienced professional teams to meet the needs of different regions and strengthen the Group's brand image. The Group has a portfolio of 25 property projects in the PRC, including 20 residential complex projects, 5 commercial complex projects covered Nanjing, Changzhou, Yangzhou, Taizhou, Taixing, Suqian, Siyang, Nantong and Zhenjiang as at 31 December 2016. The Group has successfully entered into the market of the Pearl River Delta in 2016, extending the business footprint to the major cities in Guangdong Province including Shenzhen.
