[ET Net News Agency, 21 November 2017] Guorui Properties (02329) said it agreed to
subscribe for about 611 million shares of Chaotuan International Limited for about HK$717
million.
Upon completion, the target company's shares will be held by Guorui Properties and
Chaotuan Investment as to 55% and 45%, respectively.
The target company holds Chaotuan International Trade Limited, which is principally
engaged in corporate and property management businesses. The project invested and
constructed by the project company is mainly the "Innovative International Trade Centre
Project" located in Ezhou City, Hubei Province, the PRC. The project company has signed a
contract to be transferred with the state-owned construction land use rights in respect of
500 mu land related to such project. (HL)