hlyeo98
- 11 Jul 2007 17:42
11 July 2007
CHINA REAL ESTATE OPPORTUNITIES LIMITED
COMMENCEMENT OF DEALINGS AND ADMISSION TO AIM
China Real Estate Opportunities Limited ('CREO' or 'the Company'), a Jersey
incorporated company, established to acquire both investment and development
properties in China, today announces the commencement of dealings of its
ordinary shares on AIM under ticker symbol CREO.L.
The Company, through its broker Teather & Greenwood Limited, has successfully
raised 259 million via the issue of 34,227,807 Ordinary Shares at a price of
7.56 per share (the 'Placing'). The market capitalisation of the Company based
on the Placing Price is 398 million. Davy acted as Irish placing agent to the
Company.
Ray Horney of CREO commented:
'We are delighted with the degree of investor interest shown in the Placing. The
Board believes that the Chinese real estate market holds very significant
opportunities. CREO is committed to taking advantage of these conditions and we
look forward to reporting to shareholders on its progress.'
Placing Statistics
|Placing Price : 7.56
+--------------------------------------------------------+--------------+
|Number of new Ordinary Shares to be issued pursuant to | 32,094,866
|the Placing
+--------------------------------------------------------+--------------+
|Number of Consideration Shares to be issued | 2,132,941
+--------------------------------------------------------+--------------+
|Number of Ordinary Shares currently in issue | 18,400,000
+--------------------------------------------------------+--------------+
|Number of Ordinary Shares in issue immediately following| 52,627,807
|the Placing and Admission
+--------------------------------------------------------+--------------+
|Estimated net proceeds of the Placing receivable by the | 234 million
|Company
+--------------------------------------------------------+--------------+
|Estimated initial diluted net asset value per Ordinary | 7.68 |
|Share | |
+--------------------------------------------------------+--------------+
|Market capitalisation of the Company at the Placing | 398 million|
|Price | |
BAYLIS
- 11 Jul 2007 18:57
- 2 of 10
REO HOLDS 15.9%. WEB SITE. CHINAREO.COM FOR MORE INFO.
BAYLIS
- 28 Dec 2007 13:27
- 4 of 10
07 December 2007
China Real Estate Opportunities Limited ("CREO" or the "Company")
The Board of Directors of CREO are pleased to announce that a number of
re-lettings have successfully been made in respect of office and retail units at
City Centre 1 and Central Plaza , Shanghai, two of the Company's core investment
assets. Since these properties were acquired in July, proactive management has
delivered strong performance and over the past two months renewals have been
achieved in respect of 15 units and the average premium achieved on these
re-lettings has been 18 per cent.
BAYLIS
- 27 Mar 2008 21:35
- 5 of 10
China Real Estate Opportunities Ltd (CREO) said its full-year portfolio value as at Dec 31 rose more than 11 pct to 600 mln stg on good rental growth in the office and retail sectors in China.
The AIM-listed and China focused property investor and developer said for the year to end-December, its adjusted net asset value (NAV) per share was 8.23 stg against flotation value of 7.68 stg, reflecting the strong performance of its Chinese property portfolio.
Chairman Ray Horney said: 'In the short to medium term we are well positioned to capitalise on the rental growth in the office and retail sectors which we expect to be driven by China's strong underlying economic growth and fast growing retail demand.