On 26 November 2015, the Offering Review Committee of China Securities Regulatory Commission (“CSRC”) approved the application filed by Shanghai Industrial Development Co., Ltd. (“SIDC”) for an A-share non-public offering.
SIDC, a public company quoted and listed on Shanghai Stock Exchange (stock code: 600748) and the constituent stock of SSE 180 and CSI 300, mainly engages in the development and operation of real properties. With a total offering of around 413 million shares, the sum of proceeds to be raised therefrom is around RMB 4.8 billion, which will be used to invest in SIDC’s existing Qingdao International Beer City Project and to acquire Shanghai Shangtou Holdings Co., Ltd. and Shanghai Longchuang Eco-energy Systems Co., Ltd. (“Longchuang”). The acquisition of and investment in traditional real-estate business will boost SIDC’s overall competitive edges in its prime business. Meanwhile, by utilizing Longchuang’s advantage in eco-energy saving business, and combining the traditional real-estate business with intelligent building energy-conservation, SIDC will surely increase the economic added value of its existing real-estate business and further enhance its profitability.
Grandall Shanghai Office has been retained as the issuer’s counsel, with Ms. XU Chen, Ms. ZHU Yuting and Ms. ZHUO Chang’e as key lawyers offering comprehensive and professional service.