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    600098   CNE000000SB6

GUANGZHOU DEVELOPMENT GROUP INCORPORATED

(600098)
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Guangzhou Development Group Incorporated announced that it expects to receive CNY 6 billion in funding from Guangzhou State-owned Capital Operation Holdings Co.,Ltd. and other investors

06/09/2021 EST

Guangzhou Development Group Incorporated announced a private placement of not more than 817,858,967 shares A shares for gross proceeds of not more than CNY 6,000,000,000 on June 9, 2021. The total number of shares to be issued does not exceed 30% of the total equity before the issuance. The transaction will include participation from not more than 35 specific investors including returning investor Guangzhou State-owned Capital Operation Holdings Co.,Ltd. The transaction was approved at 29th meeting of the eighth session of the company's board of directors, and the sixteenth meeting of the eighth board of supervisors. The transaction is subjected to the approval of shareholders, competent state-owned approval unit, Guangzhou State-owned Capital Operation Holdings Co.,Ltd. and China Securities Regulatory Commission for approval. The shares issued will have a restricted period of 18 months from the date of issuance. The number of shares to be issued is not more than 30% of the company's total share capital before the issuance. The issuance price will not be less than 80% of the average price of the company’s stock price during the 20 trading days prior to the pricing base date.


ę S&P Capital IQ 2021
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Financials
Sales 2020 31 710 M 5 000 M 5 000 M
Net income 2020 903 M 142 M 142 M
Net Debt 2020 11 364 M 1 792 M 1 792 M
P/E ratio 2020 19,3x
Yield 2020 2,61%
Capitalization 20 393 M 3 212 M 3 215 M
EV / Sales 2019 0,94x
EV / Sales 2020 0,91x
Nbr of Employees 5 543
Free-Float 35,7%
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Managers and Directors
Xu Wu Vice Chairman & Chief Executive Officer
Kai Yun Feng Chief Financial Officer
Can Hua Zhang Chairman-Supervisory Board
Kang Xie Independent Director
Xiao Qian Ma Independent Director