New World Department Store Or More Comprehensive Development Investment

According to the world clothing shoes and hats net,

China again released privatization progress in July 2nd.

According to the joint announcement of New World Development Co (hereinafter referred to as "new world development") and New World Department Store China Limited (hereinafter referred to as "New World Department Store China"), the Swiss bank Hongkong branch will propose a voluntary conditional cash offer on behalf of the new world development, and propose a privatization of the way to acquire all the shares issued by the new world department store. The offer will be officially closed at 4 p.m. on July 18th.

The announcement made it clear that the end of the privatization offer ended. The privatization of new world department store in China has begun to come to an end.

According to the previous announcement, Swiss bank Hongkong branch will present a voluntary conditional cash offer on behalf of the new world development to acquire all the shares except the new world development stock, which is HK $2 per share.

It is reported that about 1 billion 686 million shares of new world department store have been issued in China, of which about 1 billion 219 million shares are held by the new world, with a shareholding ratio of 70%.

According to the new world department store's China acquisition equity plan, there is no new world department store's Chinese acquisition stock has been granted or not yet exercised. The privatization offer is worth about HK $935 million.

New world department store, China, is the retail sector of the new world development of Hongkong enterprises in the mainland of China. It was founded in 1993. As of December 31, 2016, there were 40 general merchandise stores and 2 shopping centers. The total floor area was about 165 thousand square meters, and distributed in three operational areas in the north, East China and West China, covering 22 main cities in the country.

Of these, 37 are private stores and 5 are management shops.

In the evening of June 6th, the new world department store issued a joint announcement on China's new world development with its parent company.

The new world development will offer a cash offer through the Swiss bank Hongkong branch to acquire all the issued shares of the new world department store and make the proposal privatization.

The notice lists the relevant provisions that may be mandatory to acquire and revoke the listing status. If the offeror receives effective acceptance of the Chinese shares of the New World Department, which is not less than 90% of the offer shares and not less than 90% of the offer, the offeror intends to exercise the right to force the acquisition of the offer by the offeree under the tender offer to achieve the new world department store in China.

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With regard to the choice of privatization of the new world department store in China, the new world development believes that it will facilitate the company to draw up a more comprehensive investment strategy and allow companies to deploy resources in a more flexible way between the mainland and Hongkong in the right opportunity.

In addition, privatization will also eliminate administrative, compliance and other listing related costs and expenses.

But in fact, data indicate that this is the capital of the new world department store in China.

A relatively attractive exit gesture.

Publicly available data show that the level of cash and time deposits held by new world department stores in China decreased from 4 billion 153 million yuan in 2011 to 1 billion 877 million yuan at the end of last year.

After the privatization news, the new world department store ushered in a surge in share prices. According to the closing price in July 2nd, the total market value of new world department store was 3 billion 254 million yuan.

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