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Senin, 25 November 2019 09:09:00

JY Grandmark - "Eco-friendly and People-oriented Property Developer" Announces Proposed Listing on the Main Board of The Stock Exchange of Hong Kong

Global Offering of 400,000,000 Offer Shares
Offer Price Range of HK$2.91 to HK$3.63 Per Offer Share
Introducing Centralcon's Largest Shareholder Mr. Wong Kwong Miu and TCL's Wholly-owned Subsidiary as Cornerstone Investors
  
Investment highlights:
Ability to acquire land reserves in strategic locations with abundant natural resources, rich culture and potential for growth; Design and develop diverse residential properties leveraging unique land features
Flexible means to acquire desirable project sites
Stably growing business and financial performance
Quality control and cost efficiency by meticulous project management
Experienced and dedicated management team

HONG KONG, - 25 November 2019 - JY Grandmark Holdings Limited ("JY Grandmark" or the "Company"; together with its subsidiaries, the "Group", stock code: 2231), a property developer, operator and property management service provider based in the People's Republic of China (the "PRC"), announces today the details of the global offering (the "Global Offering") of its shares (the "Shares") and its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

A total of 400,000,000 Shares (subject to the Over-allotment Option) (the "Offer Shares") are being offered or sold under the Global Offering, comprising an international placing (the "International Placing") of 360,000,000 Shares (subject to reallocation and the Over-allotment Option) and a Hong Kong public offer of 40,000,000 Shares (subject to reallocation) (the "Hong Kong Public Offer"), representing 90.0% and 10.0%, respectively, of the total number of the Offer Shares. The Over-allotment Option allows the issuance of up to 60,000,000 Shares, representing 15.0% of the Offer Shares.
 
The offer price (the "Offer Price") is expected to be not less than HK$2.91 per Offer Share and not more than HK$3.63 per Offer Share (the "Indicative Offer Price" range). The Shares will be traded in board lots of 1,000 Shares each. The price for one board lot of Shares will be not more than HK$3,666.58 based on the high end of the Indicative Offer Price range (inclusive of brokerage, Stock Exchange trading fee and Securities and Futures Commission transaction levy).
 
The Group has introduced (i) Centralcon Enterprises Company Limited, which is ultimately beneficially owned by Mr. Wong Kwong Miu, the largest shareholder of a Shenzhen-listed property developer Shenzhen Centralcon Investment Holdings Company Limited, and (ii) Plus Incentive Investment Limited, a wholly-owned subsidiary of intelligent technology corporation TCL Industries Holdings Co., Ltd as the cornerstone investors (the "Cornerstone Investors"). Each of the Cornerstone Investors has agreed to subscribe HK$200 million worth of Offer Shares and their shares are subject to a 6-month lock-up period following the listing date. (*).