YUEXIU PROPERTY (00123) subsidiary applies for registration for public issuance of corporate bonds and listing.
Yuexiu Property (00123) announced that the indirect Chinese subsidiary company Guangzhou City Urban Construction, in which the company holds a 95% stake...
YUEXIU PROPERTY (00123) announces that its indirect subsidiary, Guangzhou City Urban Construction Development Co., Ltd., in which the company holds a 95% equity interest, has applied to the China Securities Regulatory Commission and the Shanghai Stock Exchange for registration to publicly issue corporate bonds with a total principal amount of up to RMB 9.6 billion targeted towards professional investors in China and to list on the Shanghai Stock Exchange. Upon approval of the application, it is expected that the proceeds from the corporate bonds will be used to repay other existing corporate bonds issued by the company. The company's ultimate controlling shareholder, Guangzhou Yuexiu Group Co., Ltd., guarantees the repayment of the principal and interest on the corporate bonds.
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