Thursday, June 23, 2011

Shanghai jahwa finalising sale price $ 5.109 billion in early June will be listed

Shanghai jahwa group prepared the reform is about to stride the last bucket.
On June 20, Shanghai jahwa announcement said, at present, group audit, asset evaluation of site work has ended. Reporter an exclusive was informed that an audit assessment reports on home posted jahwa group headquarters had begun.
Known to the public that the report is listed on the Shanghai jahwa group assets, including its listed companies ', the current price 5.109 billion yuan.
$ 5.109 billion worth 51.09 billion, was previously of the group after contact with the large number of financial investors, thought the latter psychological price caps. Shanghai jahwa group is divided into two main categories of assets, is a direct or indirect holding of shares in listed companies Shanghai jahwa 29.15%, the second is unlisted assets.
Including House of Sanya tourism group of Hui-sheng industrial co, Ltd, Shanghai jahwa investment limited three-level subsidiaries, and their holding companies or shareholdings, such as Shanghai land and Shanghai Takasago Robinson spice Johnson co, Ltd, Sanya haitang Bay, home of the joint development and Shanghai Xinhua spice company.
The asset market value assessment is mainly Shanghai jahwa measurement, and evaluation of this part of the market value of listed companies is as high as 57 times for corresponding times forward earnings. Has previously attracted investors, against "high prices" objection. As Chairman of Ge Wenyao has a high profile said, "never sell it to foreign" and therefore, to negotiate for financial investors.
And financial investors was the quote given at around 4 billion. But, after direct Shanghai jahwa group of 38.18%, a total of 161.5173 million shares of stock. Meanwhile, Shanghai jahwa group through its holding 90% Hui-sheng industry also indirectly holds a stake in Shanghai jahwa 0.85%.
Such numbers, group held a total of 38.95% shares of listed companies.
In accordance with the listed company's share price, group of assets will be worth more than 6 billion yuan.
To avoid price difficult to find partners, the evening of March 28 this year, Shanghai jahwa announcement said home of Shanghai jahwa 41,457,142 shares held by group, representing 9.8% shares of Shanghai jahwa, is zoned to the Shanghai urban construction investment and Development Corporation in three shares, Shanghai jiushi company 20,728,571 unit. At this point, the Group of direct and indirect holding of listed company's share ratio will drop to 29.15%. The divestitures, in addition to avoid takeover, more practical consideration is to meet the buying Consortium's bid.
Now it consists of 29.15% shares of listed companies within the Group's assets and liabilities, such as hotel from 5.109 billion yuan, has investors quote not much different from before.
6 beginning of month tags according to Ge Wenyao, audit evaluation work ends, also means the seller of zhejia reorganization basic clear of obstacles. Notice in March of this year's home ownership transferred to the city of Shanghai jiushi group and 9.8% investment group while SASAC of Shanghai Municipal Government and State Council also approved the agreed reform direction of the group. At this point, the State-owned assets assessment of jahwa group has officially begun.