Beijing Capital Land (02868) said it proposes to further subscribe 4.9% equity interests in Tianjin Hefa Real Estate Development Company Limited by way of vendor Tianjin Zhaosheng Real Estate Company Limited listing and provide funding to the project company on a pro rata basis.
The total capital commitments is Rmb244.9 million, of which the consideration for the proposed further subscription of 4.9% equity interests shall not exceed Rmb9.8 million and the provision of funding to the project company in proportion to the proposed further increase in shareholding shall not exceed Rmb235 million.
The project company is principally engaged in the development and operation of the site project located at 189 Liuyuan, Beichen District, Tianjin City. The Beijing Capital Land Group expects that, upon completion, the equity interests in the project company will increase from 19.8% to 24.7%.
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