HONG KONG, CHINA - Media OutReach - 28 July 2017 - CIFI Holdings (Group) Co. Ltd. ("CIFI" or the "Group", HKSE: 884), has announced to issue 545,000,000 new shares to a subsidiary of Ping An Insurance (Group) Company of China, Ltd. (HKSE: 2318) ("Ping An") at HK$3.50 per share. After the subscription, Ping An will own approximately 10% of the enlarged share capital of CIFI.
The Group believes that the introduction of Ping An as a strategic investor will strengthen the Group's equity. Going forward, CIFI and Ping An will actively seek opportunities for co-operations. Further,CIFI will appoint a representative from Ping An to the board of directors.
About CIFI Holdings (Group) Co. Ltd.
Headquartered in Shanghai, CIFI is one of China's top 20 real estate developers. CIFI principally focuses on developing high-quality properties which target the end-users in first- and second-tier cities in China. CIFI develops various types of properties, including residential flats, office buildings and commercial complexes.
To learn more about the Company, please visit CIFI's website at: http://www.cifi.com.hk