[ET Net News Agency, 10 May 2018] Hopefluent Group Holdings (00733) said it entered
into a cooperation reorganisation agreement with Poly Real Estate Group Co., Ltd. in
relation to the real estate agency business cooperation between the parties.
Hopefluent (China) Real Estate Consultancy Co., Ltd., an indirectly wholly-owned
subsidiary of Hopefluent, agreed to acquire Poly Real Estate Investment Consultancy Co.,
Ltd. and its 4 companies in consideration for the issue by Hopefluent China of 43.9% of
its entire equity interests to Poly Real Estate.
Hopefluent also agreed to place 36 million new shares to Poly Real Estate at HK$4.2
apiece, representing a premium of about 21.74% to the closing price of HK$3.45. The new
shares represent around 5.11% of the enlarged issued share capital of Hopefluent. The net
proceeds of about HK$146 million will be used as to HK$100 million for future development
of the primary and secondary real estate agency businesses and about HK$46 million for
general working capital of the Group.
Upon completion, Poly Real Estate will own 43.9% of the entire equity interests in
Hopefluent China, and thereby will become a connected person of Hopefluent.
Each of Hopefluent and Poly Real Estate will undergo a corporate reorganisation within
its group of companies whereby the Hopefluent China Group will be formed with Hopefluent
China being the holding company holding 95 companies all of which are engaged in the
provision of primary and secondary real estate agency services or related services, and
the Poly Consultancy Group will be formed with Poly Consultancy being the holding company
holding 4 companies all of which are engaged in the provision of primary and secondary
real estate agency services or related services.
The shares of Poly Real Estate are listed on the Shanghai Stock Exchange (stock code:
Trading in shares of Hopefluent will be resumed today. (HL)
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