News Column

Suzhou New District Hi-Tech Plans to Finance CNY1.5bn

January 24, 2014

SHANGHAI , January 24 , SinoCast -- Suzhou New District Hi-Tech Industrial discloses that it plans to finance not more than CNY 1.5 billion through a non-public offering to fund a real estate project. Controlling shareholder plans to buy 40% of the shares to be issued. CNY 900 million of the financing will be invested in a building project, CNY 400 million will be used to buy a land lot and remaining CNY 200 million will be used to replenish working capital.

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Source: Sinocast Construction & Real Estate Beat (China)

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