Shanghai Dongmao Real Estate Co., Ltd. announced that it expects to receive CNY 6 billion in funding from Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd., Shanghai Lujiazui Development(Group) Company Limited
December 03, 2021
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Shanghai Dongmao Real Estate Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 6,000,000,000 on December 4, 2021. The transaction will include participation from returning investors Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. for CNY 1,800,000,000 to retain 30% stake and Shanghai Lujiazui Development(Group) Company Limited for CNY 4,200,000,000 to retain 70% stake in the company. Post the transaction, the registered capital of the company will increase from CNY 10,000,000,000 to CNY 16,000,000,000. The transaction has been approved at the second meeting of the audit committee of the ninth board of directors in 2021 and the third interim meeting of the ninth board of directors meeting in 2021 of Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd.
Shanghai Lujiazui Finance & Trade Zone Development Co Ltd is a China-based company mainly engaged in commercial real estate, commercial operations and financial services. The Company conducts its business through four segments. The Real Estate segment is engaged in the comprehensive development of real estate and related industries, including land leasing, real estate sales, real estate leasing, hotels, property management and other businesses. The Trust segment is engaged in fund trusts, movable property trusts, real estate trusts, securities trusts, other property or property rights trusts, investment fund business, restructuring and mergers and acquisitions and financing, financial advisory business, and custody and guarantee business. The Securities segment is engaged in securities brokerage, securities investment consulting and securities trading. The Company also provides services through the Other segment. The Company primarily conducts its business in the domestic market.
Shanghai Dongmao Real Estate Co., Ltd. announced that it expects to receive CNY 6 billion in funding from Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd., Shanghai Lujiazui Development(Group) Company Limited