SMM News: sunshine City intends to split its property management company to list in Hong Kong. According to sources, the company has appointed two investment banks to prepare for listing, with an initial plan to raise at least US $200 million (about HK $1.56 billion).
It is understood that the above source continued that Sunshine City has hired Huatai and China Merchants Bank to be listed in Hong Kong as soon as next year, but the amount of capital raised and the listing timetable are still uncertain.
In addition, the market news on July 30 also indicated that Sunshine City property plans to be listed next year, and the relevant audit has been carried out. On July 29, Sunshine City registered a new company named Sunshine City Huizhi Youjia Life Service Co., Ltd. (referred to as "Huizhi Youjia").
It is reported that the business scope of Huizhi Youjia includes property management, parking garage operation and so on. According to the ownership structure, Huizhi Youjia is 99% owned by Sunshine City and 1% owned by Fujian Sunshine Real Estate, which is a wholly owned subsidiary of Sunshine City. The legal representative and chairman of the company are Lin Tengjiao, chairman of the board of directors of Sunshine City, who is also the actual controller of Huizhi Youjia, benefiting 14.6849% of the shares. The registered capital of the company reached 150 million yuan, while the limited registered capital of Sunshine City property Services, the main property company of Yangguang City Group, is only 50 million yuan.
Enterprise check data show that there are 118 branches of Sunshine City property; 14 Huizhi Youjia holding companies, in addition to 100% holding Sunshine City property, Huizhi Youjia also owns 13 enterprises, including Beijing Haushibin property Company, Sunshine City Shaanxi property Company, Guangdong Jiangwan New City property Company, Urumqi Sunshine City property Company and Quanzhou Dehua Sunshine City property Company.
Then, on September 25, Sunshine City also issued a notice saying that in order to implement the company's development strategy, improve business quality and efficiency, promote and stimulate the integration of resources in various formats of shareholders and the work enthusiasm of Huizhi excellent staff, to promote the common growth and development of all parties and Huizhi Youjia, Sunshine City holding subsidiary Huizhi Youjia plans to increase its capital and shares.
Specifically, five companies signed a capital increase agreement with Huizhi Youjia, intending to increase the capital of Huizhi Youjia, the total amount of which is 367 million yuan, and the price per share is 5.8667 yuan. Huizhi Youjia issued a total of 62.5 million shares this time, of which the two enterprises controlled by Lin Tengjiao, Longjing Industry and Sunshine Health, subscribed for 5.25 million shares and 5 million shares respectively.
