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| Intends to Jointly Drive Development of Projects in Guangdong-Hong Kong-Macao Bay Area |
HONG KONG, Apr 15, 2018 - (ACN Newswire) - Asia Allied Infrastructure Holdings Limited ("AAI" or the "Group") (stock code: 00711) announced that its controlling shareholder (including the shares directly and indirectly owned by members of the Pang family) has entered into an agreement on 23 March 2018 in relation to the disposal of 9.8% shares to SFund International Investment Fund Management Limited ("SFund International"). After the transaction completed, the Pang family will own approximately 61.8% equity interest in AAI and will remain as the Group's largest shareholder.
Mr. Dominic Pang, Chairman of AAI, said, "Our cooperation with SFund International not only enables us to diversify the Group's shareholder base, but also allows us to capitalize on the experience and resources of SFund International in Mainland China to seize development opportunities, leading to the expansion of the Group's presence both inside and outside the country and other regions, and generate synergies between both parties. The Guangdong-Hong Kong-Macao Bay Area is one of Mainland China's major development projects, in view of the strong demand for education, elderly services and housing in the region, both parties have reached an initial agreement in which the plan will result in joint efforts to drive the development of projects in the said Area."
The Guangdong-Hong Kong-Macao Bay Area is one of Mainland China's key development projects following its inclusion in the government's national strategies. With AAI's experience in property development, construction and project management as well as SFund International's network and resources in the country, both parties will jointly explore the enormous infrastructure and real estate development opportunities that emerge from the Big Bay Area Project, and will evaluate opportunities in area such as international schools, elderly services, housing and residential care services.
Founded in 2013 and led by the Guangzhou Municipal Government, Guangzhou Industrial Investment Fund Management Co., Ltd. engages in businesses such as government fund management, private equity (PE) investment, venture capital (VC) and other finance platforms. Moreover, it has built a complete financial industrial chain that covers angel funds, VC investment, PRE-IPO, PIPE, M&A funds, urban development funds, government funds, Internet financing and fixed income, among other services. As at the end of 2017, it had contracted funds valued at RMB380 billion and managed actual funds worth RMB138 billion. SFund International is the international investment and financing arm shrewd in innovation of Guangzhou Industrial Investment Fund Management Co., Ltd.
Asia Allied Infrastructure Holdings Limited (stock code: 00711.HK)
Asia Allied Infrastructure Holdings Limited ("AAI") is listed on the Main Board of the Hong Kong Stock Exchange under stock code 00711. It is engaged in various businesses including construction engineering and management, property development, security services and property management. With Hong Kong as its business development base, AAI is also exploring development opportunities with Asia as the main focus, as well as in overseas markets. Its subsidiary "Chun Wo" is a renowned construction contractor and property developer in Hong Kong, which enables AAI to capitalise on that company's solid construction experience and professional capabilities to seize the opportunities for infrastructure development in countries along the "Belt and Road" initiative, and, ultimately, to increase overall profitability and create higher investment value. For details, please refer to the company website: http://www.asiaalliedgroup.com
For press enquiries:
Strategic Financial Relations Limited
Joanne Lam (852) 2864 4816 joanne.lam@sprg.com.hk
Cindy Lung (852) 2864 4867 cindy.lung@sprg.com.hk
Isabel Kwok (852) 2864 4824 isabel.kwok@sprg.com.hk
Topic: Press release summary
Source: Asia Allied Infrastructure Holdings Limited
Sectors: Daily Finance, Daily News, Construct, Engineering
https://www.acnnewswire.com
From the Asia Corporate News Network
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