Shanghai Jiazhang Real Estate Co., Ltd announced that it expects to receive CNY 5.05533 billion in funding from Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd., Shanghai Lujiazui Development(Group) Company Limited
August 02, 2020
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Shanghai Jiazhang Real Estate Co., Ltd announced that it will receive CNY 5,053,330,000 in an equity round of funding on August 3, 2020. The transaction will include participation from returning investors Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. (SHSE:600663) for CNY 3,537,331,000 to retain 70% stake and Shanghai Lujiazui Development(Group) Company Limited for CNY 1,515,999,000 to retain 30% stake in the company. Pursuant to the transaction, the registered capital of the company will increase from CNY 5,000,000 to CNY 5,058,333,000. The transaction has been approved by the 3rd extraordinary general meeting of the audit committee of the 8th directorate in 2020, the 4th extraordinary meeting of the 8th directorate in 2020.
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 Jiazhang Real Estate Co., Ltd announced that it expects to receive CNY 5.05533 billion in funding from Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd., Shanghai Lujiazui Development(Group) Company Limited