BEIJING, Dec. 24, 2019 /PRNewswire/ -- Fang Holdings
Limited (NYSE: SFUN) ("Fang"), a leading real estate internet
portal in China, today announced
that with the approval of the audit committee and the board of
directors, it has entered into an agreement (Agreement) with
Next Decade Technology Limited and Media Partner Investments
Limited (together the "Sellers") which are affiliated companies of
Fang's chairman Mr. Vincent Mo to
acquire certain equity interests in China Index Holdings Ltd. ("CIH").
Fang agrees to buy and the Sellers agree to sell, within the
next 12 months, at a fixed price of US$5.99 per share, in an aggregate up to 15
million ordinary shares (mostly Class B) of CIH beneficially owned
by the Sellers in the Agreement. According to the Agreement, Fang
will have the absolute and sole discretion to determine the number
of shares to purchase, the timing of the purchase, and whether a
single or a series of transactions. Both parties also agree that
Fang will not seek to gain a controlling voting power in CIH as a
result of the proposed transaction, unless it is approved
separately by the audit committee and the board of directors of
each of Fang and CIH.
About Fang
Fang operates a leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through its websites, Fang
provides primarily marketing, listing, leads generation and
financial services for China's
fast-growing real estate and home furnishing and improvement
sectors. Its user-friendly websites support active online
communities and networks of users seeking information on, and
value-added services for, the real estate and home furnishing and
improvement sectors in China. Fang
currently maintains approximately 65 offices to focus on local
market needs and its website and database contains real estate
related content covering 658 cities in China. For more information about Fang, please
visit http://ir.fang.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995.
These forward-looking statements can be identified by
terminology such as "will," "expects," "is expected to,"
"anticipates," "aim," "future," "intends," "plans," "believes,"
"are likely to," "estimates," "may," "should" and similar
expressions, and include, without limitation, statements regarding
Fang's future financial performance, revenue guidance, growth and
growth rates, market position and continued business
transformation. Such statements are based upon management's current
expectations and current market and operating conditions, and
relate to events that involve known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many
of which are beyond Fang's control, which may cause its actual
results, performance or achievements to differ materially from
those in the forward-looking statements. Potential risks and
uncertainties include, without limitation, the impact of Fang's
transformation back to a technology-driven Internet platform and
the impact of current and future government policies affecting
China's real estate market.
Further information regarding these and other risks, uncertainties
or factors is included in Fang's filings with the U.S. Securities
and Exchange Commission. Fang does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
law.
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SOURCE Fang Holdings Limited