Hopefluent Group (00733) said it agreed to place 42 million new shares to chairman Fu Wai Chung and 91 million new shares to SouFun Holdings at HK$3 apiece, representing a premium of about 14.1% to the closing price on 12 September.
The estimated net proceeds of about HK$395 million will be applied to conduct real estate financial and Internet financial services business and for general working capital of the Group.
SouFun will hold about 13.86% of the enlarged issued share capital of Hopefluent. Fu's interest will decrease from about 35.03% to 34.33%.
Besides, Hopefluent and SouFun Holdings have agreed to establish a joint venture company to engage in real estate financial and internet financial business in the PRC subject to the final approval of relevant governmental authorities. The JV will be owned as to 60% by SouFun Holdings and 40% by Hopefluent.
SouFun Holdings is a company listed on The New York Stock Exchange operating real estate Internet portal in PRC.
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