(6 May 2021 - Hong Kong) - Kaisa Group Holdings Limited ('Kaisa' or the 'Company', SEHK stock code: 1638, which together with its subsidiaries, is referred to as the 'Group'), a property developer established in Shenzhen with a countrywide foothold in China, is pleased to announce the results of its Rights Issue of Rights Shares at the subscription price of HK$2.95 each on the basis of one Rights Share for every seven existing shares held.

The Company received a total of approximately 3.62 billion Rights Shares subscription, of which 850 million Rights Shares under provisional allotments and 2.77 billion Rights Shares for excess Right Shares were received, representing approximately 97.20% of 880 million Rights Shares available under the Rights Issue, and 113 times of 24.52 million excess Rights Shares under the EAFs respectively.

The Group will allot and issue 24.52 million Rights Shares to those who have applied for excess Rights Shares on a pro rata basis of approximately 0.89% of the number of excess Rights Shares applied under each valid application.

With overwhelming response to the Rights Issue, the Group has raised HK$2.59 billion before expenses.

Kaisa Group said, 'The Rights Issue will help strengthen the Company's financial position. The

overwhelming participation in the Rights Issue by the majority shareholders reflects that investors fully recognize Kaisa's operating strategy and they are pleased to participate in and support the Group's future development, sharing the fruitful results of operations.'

The Company currently intends to use the net proceeds from Rights Issue to fund a portion of the potential acquisition of a real estate project in Beijing, the PRC. In the event that the potential acquisition does not proceed to completion, the net proceeds from the Rights Issue will be applied for the Group's general working capital to further develop the Group's property development business, including but not limited to acquisition of other real estate project should suitable opportunities arise.

The major shareholder Kwok's family will hold 39.03% stake in Kaisa Group upon completion of the transaction. Dealings in the fully-paid Rights Shares on the Stock Exchange are expected to commence at 9:00 a.m. on Monday, 10 May 2021.

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Kaisa Group Holdings Ltd. published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 14:25:04 UTC.