Investment
January 15 2008 - 4:26AM
UK Regulatory
Investment
15 January 2008
PACIFIC ALLIANCE CHINA LAND LIMITED
Investment in Chinese Property Developer
Pacific Alliance China Land Limited (AIM: PACL) is pleased to
announce a US$40 million cash investment in a real estate developer
(the "Company") based in the Pearl River Delta Region in the People's
Republic of China ("PRC"). This is one of the initial investments
made by PACL since its listing on November 22, 2007
The Company is a mid-sized developer headquartered in Guangdong
Province. The Company is also engaged in property management,
interior decoration and landscape design. The group commenced its
property development business in the late 1990's. The Company has
completed five projects in Guangdong and has a portfolio of 14
further projects with construction in progress or yet to commence.
The Company focuses on land sites that are located between city
center and suburban areas which can be obtained at relatively low
prices and increases the sale value of completed developments by
offering unique and high quality design and a comfortable living
environment for its customers. The Company's target customers are
middle class urban residents looking for reasonably priced quality
housing alternatives.
The Company is planning an initial public offering ("IPO") on the
Hong Kong Stock Exchange in 2008. The purpose of this fundraising is
to enable the Company to expand its land bank reserve in preparation
for the IPO.
This investment is in the form of Redeemable Exchangeable Notes
("Notes"). PACL will have the right to exchange the Notes into common
shares in the Company at a substantial discount to the IPO price. In
the event a qualified IPO is not achieved within 3 years, PACL will
have right to redeem its investment at a value that would achieve an
attractive return on the initial investment.
For more information please contact:
+----------------------------------------------------------------------------+
|NOMINATED ADVISER: |BROKER: |
| | |
|Philip Secrett/Cha Patel |Hiroshi Funaki |
|Grant Thornton Corporate Finance |LCF Edmond de Rothschild |
|Tel: +44 207 383 5100 |Securities |
|Philip.J.Secrett@gtuk.com/Cha.patel@gtuk.com |Tel: +44 20 7845 5960 |
| |Fax: +44 20 7845 5961 |
| |h.funaki@lcfr.co.uk |
|----------------------------------------------+-----------------------------|
|MEDIA RELATIONS: |LEGAL COUNSEL: |
| | |
|Sophie Hoggarth |Jon Lewis |
|Pacific Alliance Group |Pacific Alliance Group |
|Tel: +86 21 61135818 |Tel: +852 29180088 |
|shoggarth@pacific-alliance.com |Fax: +852 29180881 |
| |jlewis@pacific-alliance.com |
|Simon Moyse | |
|Brian Cattell | |
|Finsbury | |
|Tel: +44 20 7251 3801 | |
|Simon.Moyse@finsbury.com | |
|Brian.Cattell@finsbury.com | |
| | |
+----------------------------------------------------------------------------+
About Pacific Alliance China Land Limited
Pacific Alliance China Land Limited ("PACL") (AIM:PACL) is a private
equity fund focused on investing in a portfolio of investments in
existing properties, new developments, distressed projects and
pre-IPO and IPO real estate companies in Greater China. PACL was
admitted to trading on the AIM Market of the London Stock Exchange
and to listing on the Channel Islands Stock Exchange in November
2007.
For more information, see www.pacl-fund.com
END
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