On May 19, 2014, China LVGEM Property Holdings Ltd. ( “China LVGEM”) held an opening ceremony in Hong Kong Stock Exchange, celebrating its successful acquisition of the controlling stake in New Heritage Holdings Ltd. ( “New Heritage Holdings”, stock code: 00095 .HK).
China LVGEM earlier this year started the acquisition of approximately 64.83% of New Heritage Holdings’ entire issued share capital at 940 million Hong Kong dollars. On May 8, 2014, it has completed successful delivery and became a major shareholder of New Heritage. After the acquisition, New Heritage Holdings with roots in the Yangtze River Delta has formed a powerful alliance with China LVGEM with an experienced professional management team, achieving integration and sharing of resources and taking advantage of LVGEM’s brand, together to explore new areas in Chinese real estate market.
New Heritage Holdings was listed at the Hong Kong Stock Exchange’s main board on December 2, 2005. It mainly engages in property development and investment business in Gaoxin District, Wuzhong District and Wujiang District in Suzhou. It has 10 development projects, and has firmly established certain market share in those regions.
China LVGEM was founded in the Cayman Islands, and controlled by Mr. Huang Kang Jing, the same owner of China’s real estate company LVGEM Group. LVGEM Group is a strong Chinese real estate development company. Its real estate business was ranked Top 6 of Shenzhen real estate companies in 2013. Since 2004, other than the main sectors of real estate development, LVGEM Group developed asset management, high-tech, social medical service and other sectors. In accordance to the strategic planning of “making strong in Shenzhen, focusing on Pearl River Delta, and marching towards nationwide”, LVGEM Group develops towards comprehensive, international and branded. Its overall strengths and brand building has achieved certain significance nationally and even internationally.
Senior management of China LVGEM said: “The success of our acquisition of a controlling equity interest in New Heritage Holdings, is our first step onto the international capital stage. We are confident of New Heritage Holdings’prospect. Basing on the foundation, we will continue to uphold sincere attitude, striving to make the enterprise bigger and stronger, and continuing to create greater value for shareholders.”
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