News Column

Tianlun Real Estate to Expand to Communication Technology

August 21, 2014

HARBIN, August 21, SinoCast -- Heilongjiang Tianlun Real Estate Development (SZSE: 000711) plans to raise not more than CNY 1.4 billion via issuing additional shares to five special investors. Of the proceeds, CNY 550 million will be used to acquire 100% of Yuanjiang Information Technology, CNY 50 million replenish working capital of the target, and CNY 680 million pack back loans.

With registered capital of CNY 50 million, Yuanjiang Information is a major domestic communication technology service provider, focusing on intelligent system integration business.

Tianlun said the deal would help it expand to communication technology service and intelligent system integration so as to raise core competitiveness.

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Source: Sinocast Construction & Real Estate Beat (China)

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