ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Nikkei Markets

HK-listed Agile To Invest $1.13 Billion In Real Estate Partnership Company

By Carrie Chen
Nikkei Markets
HONG KONG (Dec 15) -- Chinese developer Agile Group Holdings said it agreed to invest 7.50 billion yuan ($1.13 billion) for a 37.49% stake in a limited partnership company that will develop three property projects in Zhongshan city in Guangdong province, where it holds a stake.

The company will, through a wholly owned unit, join hands with asset manager Kaili Yifang, financial-services provider Guosen Securities and developer Shiguang Shiye in the partnership company, which has a total registered capital of 20 billion yuan, Agile said in a filing to the Hong Kong stock exchange late on Thursday. Kaili Yifang, Guosen Securities and Shiguang Shiye will contribute 5 million yuan, 5 billion yuan and 7.50 billion yuan, respectively as capital, representing stakes of about 0.03%, 24.99% and 37.49%.

The partnership company will invest a total 136.4 million yuan towards the capital of the three joint ventures, where Agile holds ownership interests. Agile said the partnership will enable the company's three ventures to meet their financial needs for the development of their respective projects and "provide capital appreciation potential" for the group.

Agile shares fell 3.2% in Hong Kong trading on Friday.
- By Carrie Chen; Carrie.Chen@NikkeiNewsrise.com; +852 3960 5153
- Edited by V. Phani Kumar
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more