China Jinmao (00817) said Jiaxing Jinfang Qiantang Equity Investment Partnership (Limited Partnership) will make capital contribution of Rmb1,600 million to Jinmao Hangzhou Property Development Co., Ltd.
Upon completion, the registered capital of Jinmao Hangzhou will increase to Rmb3,200 million, in which China Jinmao and the partnership will each hold 50% equity interest in Jinmao Hangzhou.
Jinmao Hangzhou is engaged in the development of the development project situated on a land in Hangzhou, with a total site area of 72,219 square metres and a total above-ground gross floor area not exceeding 180,547.5 square metres.
The partnership is formed with Jiaxing Jinfang as the general partner and another investor holding the rest equity interest as limited partners. It principally engaged in the investment cooperation of land parcel projects.
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