Zhuguang Holdings (01176) rose more than 5% and rose 5.53% at press time to report HK$0.229, with a turnover of HK$5.2 million.
The Zhitong Finance App learned that Zhuguang Holdings (01176) rose by more than 5% and rose 5.53% at press time to HK$0.229, with a turnover of HK$5.2 million.
According to the news, Huang Yu, executive vice director of the China Index Research Institute, said that according to his estimates, urban village renovation, one of the three major projects, will drive an investment scale of about 1 billion square meters over the next 5 years and will effectively support the real estate market. On average, the new demand for housing brought about 44 million square meters each year, accounting for 18% of the sales area of newly built commercial residential homes in 22 cities in 2022. Urban village renovation will also play a substantial role in driving investment, including land purchases and construction and security investments. The scale is about 10 trillion yuan.
According to reports, the company previously announced that on September 15, 2023, the company signed a memorandum of understanding with the seller group and target company. According to the memorandum of understanding, the group is expected to initially directly acquire no more than 10% of the target company's shares, and then directly acquire no more than 70% of the target company's shares through multiple exercise of subscription options. Following the completion of the initial proposed acquisition and subsequent proposed acquisitions, the group will hold no more than 80% of the target company's shares.
According to reports, the target company is responsible for developing an urban renewal project of a rural collective economic organization in an old village in Guangzhou. The target company will obtain financial benefits and commercial returns by selling properties developed on a designated portion (financing plot) of the target old renovation project.