on the evening of 9 june, sre group co., ltd. and poly real estate (group) co., ltd., both released announcement, the latter or its wholly-owned subsidiary company intends to 0.25 hong kong dollars / share price in cash to subscribe for sre group of newly issued shares.
after the completion of the subscription of shares, poly real estate or its wholly owned subsidiary will become sre group holding more than 30% of the single largest shareholder.
data show that the purchase of the group mainly engaged in real estate development in the domestic, property rental and hotel business. the controlling shareholder of the company is holding currently holds approximately 51.01% of the issued share capital. and superimposed holding beneficial shareholders shi built owns 36% equity and their spouses si xiaodong holds a 30% interest, construction and / or si xiaodong some relatives totaling holds a 13% interest, and several other individual total holds a 21% interest.
it is worth noting that the poly real estate is in the subscription of new shares for the acquisition, and both sides of the announcement did not disclose the group home placement details, so the price of the acquisition is not yet known. poly real estate stakeholders said that at present there is no more information can be disclosed, all to the notice.
view real estate new media access to the sre group stock information discovery, the closing price of the company in june 5, when the suspension is 0.87 hk dollars / share, and poly real estate the ipo price of only 0.25 hong kong dollars / share, compared with the former share price before the suspension of a discount of more than 70%.
although poly real estate or to take this landing hongkong capital market speculation, the acquisition of a considerable imagination. but new media real estate point of view after the interview, the poly real estate tracking many analysts and market participants in that more general point of view, poly real estate, the move is only plot sre group of reserve land and projects.
acquisition of the chairman in the storm
view real estate new media access to sre group 2014 report that, from january to december 2014, the company completed a total contract amount of hk $1.779 billion, contract sales floor area of about 410 million square meters.
financial, sre group for the year 2014 recorded a net turnover of about hk $1.44 billion, year gross profit of approximately hk $3.07 billion, gross margin is about 21.3%.
according to the hong kong company mergers and acquisitions and code rule 26, poly real estate acquisition sre group of more than 30% of the shares, unless the executive director of the securities and futures commission corporate finance department, grant compulsory offer liability exemption, otherwise poly real estate responsibility all has not yet by the and persons acting in concert with or agreed to the acquisition of shares proposed mandatory offer.
notice revealed that poly real estate intends to apply for the cleaning of the exemption. "the subscription can be completed, will depend on the almost (including) executive personnel are granted exemption from cleaning, and, if granted, must be approved by the (including) sre group independent shareholders' approval. according to the memorandum of understanding, sre group and poly real estate has agreement will not be retained can choose to give up the prerequisite of rights. "
about the sale of intent and sre group said that in view of the poly real estate, the real estate industry in china has established the business, the company that may subscription will be for the group to bring opportunity and strengthen the group's main business. expected subscription proceeds will optimize the company's capital structure and working capital.
need to pay attention to is that shortly after the release of the important business, sre group issued a major insider information: executive director and board of directors chairman shi jian, changzhou people's procuratorates execute the specified residential monitoring measures. sre group shares has on june 5, to suspend the sale, after the publication of the insider information co., ltd. will on june 10, at nine in the morning is the resumption of trading.
the purchase of the group said that the board of directors of the company has appointed executive vice president of the board of directors and chief executive officer wang zixiong first deputy chairman. wang zixiong will assist in performing the duties of the chairman of the board of directors of the company during the period of the construction being monitored. while construction is still served as chairman of the board.
familiar with the real estate analyst at the point of view of real estate new media, poly real estate in the acquisition of this action must have been informed and understand the important information within the company. even it is because of the leadership on the dynamic group, only to have the opportunity of mergers and acquisitions of poly real estate.
on the 93 billion dollar assets
poly real estate is a second acquisition, some analysts said, poly impossible for no reason to acquire a listed company in hongkong, there should be to build a platform and other aspects of the hong kong stocks considerations."
huatai securities analyst caoguang liang and citic analyst xuejing is in an interview with the views of the real estate new media said poly the acquisition action is just fancy sre group projects.
because, after the market rumors of poly real estate and poly home how to carry out the integration of how to carry out, will not be affected by the impact of the acquisition. on the choice of poly real estate group, is the use value of its assets in the project reserves."
order point of real estate new media found that sre group 2014 report, as of december 31, 2014, the property investment companies 670.93 billion hong kong dollars, to sell for holding or property under development for 93.68 million hong kong dollars, the inventory of 1801.4 million hong kong dollars. cash and bank deposits of hk $21.09.
