News Column

SouFun to Spend CNY1bn on WorldUnion, Hopefluent

July 14, 2014

BEIJING, July 14, SinoCast -- China's largest and second largest new house agents, WorldUnion (SZSE: 002285) and Hopefluent (SEHK: 0733) will introduce into SouFun Holdings Ltd (NYSE:SFUN) so that the latter will become the former two's second largest shareholder.

WorldUnion intended to issue 139 million A-shares to nine specific investors, including 90.2643 million or 10% to be subscribed by the second-hand housing platform of SouFun.

Hopefluent officially signed a strategic cooperation agreement with SouFun to issue 91 million new shares to the latter at HKD 3 a share, accounting for about 17.38% and 14.80% of the capital stock before and after the share issuance, which will drive SouFun to become the second largest shareholder of the issuer.

SouFun is expected to spend nearly CNY 1 billion on the stake in the largest equity purchase in the real estate service providers.

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Source: Sinocast Internet, Media & Online Services Beat (China)

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