Xinyuan Real Estate Co., Ltd. , an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced that its Hong Kong-listed property management subsidiary has completed a follow-on offering of common stock. Xinyuan Property Management Services (Cayman) Ltd. (HK: 1895) (“Xinyuan Property Management”) sold an aggregate of 50,000,000 new shares of its common stock at a price of HK$2.60 per share.
Guotai Junan Securities and Valuable Capital Ltd acted as joint lead book-running managers for the offering.
Xinyuan Property Management will receive net proceeds from the offering of approximately HK$127.2 million, after deducting all applicable costs and expenses payable by Xinyuan Property Management. Xinyuan Property Management intends to use the proceeds for the business operations, strategic investments and general corporate purposes. Xinyuan Real Estate owned and will own 60% and 54.55% of Xinyuan Property Management respectively, before and after the offering.
Founded in 1998, Xinyuan Property Management is the first-class national certified property management enterprise and also the vice president organization of the China Property Management Institute. Xinyuan Property Management consistently ranks among the top 100 property management companies in China and was recently designated as a “2020 leading listed property management company for business performance”.
Xinyuan Chairman and CEO Mr. Yong Zhang stated, “Xinyuan Property Management has performed quite well since its initial public offering in October of 2019. This successful offering of shares will further enhance its strong brand recognition and leadership position in property management services. We believe that Xinyuan Property Management’s successful performance will strengthen our core real estate development capability and bring meaningful benefits to our business, our customers, and our shareholders.”
About Xinyuan Real Estate
Xinyuan Real Estate Co., Ltd. (“Xinyuan”) is an NYSE-listed real estate developer and property manager primarily in China and recently in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Tianjin, Zhengzhou, Jinan, Qingdao, Chengdu, Xi’an, Suzhou, Dalian, Zhuhai and Foshan. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.
Investor Contact:
For more information, please contact:
In China:
Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
The Blueshirt Group
Ms. Susie Wang
Mobile: +86 (138) 1081-7475
Email: susie@blueshirtgroup.com
In the United States:
The Blueshirt Group
Ms. Julia Qian
Email: Julia@blueshirtgroup.com