Cooperation with ARTE and Bain Capital which affirms Baishizhou Project value
(26 July 2021, Hong Kong) LVGEM (China) Real Estate Investment Company Limited (“LVGEM (China)” or the “Company”, together with its subsidiaries, collectively referred to as the “Group”; stock code: 95.HK) announced today that its shareholder, China LVGEM Property Holdings Limited, has successfully issued USD120 million exchangeable bonds, which can exchange into the common shares of LVGEM (China) currently held by the Company’s shareholder under specified conditions. A significant portion of the proceeds from the issuance will be contributed to LVGEM (China) as working capital.
ARTE Capital I GP Limited (“ARTE”) and Bain Capital Credit (“Bain Capital”), both well-known professional institutional investors, are the investors of the bonds. ARTE primarily focuses on private asset investments in China and Asia-Pacific region. ARTE’s investment in the bonds is through a fund managed by ARTE Capital Management Limited[1], which actively manages over USD1 billion across multiple asset classes by experienced professionals. Bain Capital is one of the world’s leading private multi-asset alternative investment companies with approximately USD130 billion in assets under management and having 22 offices around the world. Bain Capital is committed to create value through private equity, public equity, fixed revenue, credit, venture capital and real estate investment across multiple sectors, industries and regions, bringing long-term benefits to a variety of investor groups. The successful issuance of the exchangeable bonds by the controlling shareholder has demonstrated the confidence from the well-known investment institutions shown on the future development of LVGEM (China).
LVGEM (China) is recognized as a well-known comprehensive real estate developer and commercial property operator in the Greater Bay Area, focusing on the project development and project investment in Shenzhen and other Pearl River Delta regions, being the pioneer of urban renewal. The Group’s Shenzhen Baishizhou Urban Renewal Project, dubbed as “Grand Urban Renewal Project in Shenzhen”, is the largest, the most concerned and the most representative urban renewal project in Shenzhen, with a total capacity area of about 3.58 million square meters. In April this year, Shenzhen LVGEM Tiansheng Industry Company Limited*, a subsidiary of the Group, was confirmed as the operating entity of Phase I of the Baishizhou Urban Renewal Project, which is an important milestone of the project. Following to the official commencement of the Phase I of the project, the Group will concentrate its resources on the Baishizhou Urban Renewal Project. This striking urban renewal project will continue to attract worldwide prestigious investment institutions which provide strong support for the future development of the Group.
*For identification purpose only
[1]ARTE Capital Management Limited is a SFC Type 4 and 9 licensed corporation.
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