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Ying Li proposes to bring in new, substantial shareholder China Everbright in $284m deal

Published on Jun 30, 2014 12:32 PM

SINGAPORE-listed China developer Ying Li International Real Estate says it intends to seek shareholders' approval to bring in China Everbright Limited (CEL) as its strategic and second largest shareholder.

It said in a statement on Monday that it is proposing to issue new shares and perpetual convertible securities to Everbright Hero Holdings Limited (EHHL) for an aggregate of approximately $284 million.

EHHL is an indirect wholly-owned subsidiary of CEL, the asset management arm of China Everbright Group, a major player in mainland China.

CEL is listed on the Hong Kong Stock Exchange.

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