Ningbo United 18 released a major asset restructuring plan, the company
intends to issue shares of major shareholders Emori Holdings to buy its real
estate holdings shanghai
apartmentShengyuan 50% equity and 50% equity waterfront home valuation total
1.084 billion yuan. Through this reorganization, Emori Holdings will hold
corporate equity are related to the real estate business into the listed
company, competition issues will be an effective solution, but also receive six
listed companies in the construction of real estate projects and four land
reserve.
Ningbo United 18 released a major asset restructuring plan, the
company intends to issue shares of major shareholders Emori Holdings to buy its
real estate holdings Shengyuan 50% equity and 50% equity waterfront home
valuation total 1.084 billion yuan. Through this reorganization, Emori Holdings
will hold corporate equity are related to the real estate business into the
listed company, competition issues will be an effective solution, but also
receive six listed companies in the construction of real estate projects and
four land reserve.
Ningbo United on September 23 last year to suspend the
time, major shareholders to participate in the planning intention of the
reorganization has been more clear. The offering price of the shares was 6.71
yuan / share, the estimated value of assets, issue number about 16,150 shares.
In 1.084 billion yuan valuation, Sheng Yuan 50% stake, 50% stake in the
waterfront home listings correspond to the estimated value of 1.048 billion yuan
and 35.95 million yuan appreciation rate was 284% and 44%, respectively, with an
average value of the above assets rate of 264%.
as the main subject of
Sheng Yuan to buy real estate, and its annual revenues are less than 2010 and 20
million yuan, and the annual losses are, but 320 million yuan profit for the
year 2012, when revenue reached 1.42 billion yuan. However, the first nine
months of 2013 operating income of 75 million yuan, 44.14 million yuan loss.
Company said Sheng Yuan estate revshanghai apartmentsenue and
profit margin is larger, mainly due to the impact the developrent apartment shanghaiment cycle.
this reorganization, and not just "enrich" Ningbo United's real estate
business. Annual Report 2012, the company real estate income was 137 million
yuan, the main business gross profit contribution of about 20%, but compared
with the professional company, real estate business is still modest. And this
restructuring project will bring substantial reserves. Plans show Shengyuan
estate and holding shares of the company has a total of six housing projects
under construction, the total land area of ??1,046,000 square meters, is
expected to more than 2.7 million square meters building area; reserve project
3, the total land area of ??136,900 square meters . The waterfront home has a
reserve project a land area of ??40,000 square meters.
Not only that,
after completion of the transaction, Emori Holdings and major shareholders of
listed companies with the competition will largely be resolved. Currently, in
addition to the listed company, Rongsheng Sheng Yuan Holdings through real
estate, waterfront home in the real estate development business. In fact, in
2010, Ningbo Emori Holdings made a joint control over, had promised within one
year after the completion of the acquisition, startup Sheng Yuan has been made
in real estate and land reserves related work Ningbo joint injection. After not
started because of the real estate regulatory policies related work. Now, with
the change in the policy environment, real estate restructuring, refinancing a
"relaxed" signs, Emori Holdings started taking advantage of the injection
commitments.
Ningbo United suspension day before the closing price
reported 6.71 yuan.
