Cofco to inject properties into Hong Kong-listed Parkview

The $1.8 billion transaction will complete a reverse takeover that was initiated more than a year ago. A $600 million placement is planned to fund future operations and maintain the free-float at 25%.

Cofco to inject properties into Hong Kong-listed Parkview

Hong Kong Parkview Group said on Tuesday it would buy 12 property projects from Cofco Land at a total cost of HK$14.167 billion $1.8 billion. The transaction will transform the Hong Kong-listed company from a small-scale property investor that holds one single floor in an office property in the Central district into a sizeable owner of mixed-use and commercial properties in China.

Cofco Land is a wholly owned subsidiary of Achieve Bloom, which...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...