as early as a few years ago

Green City "sell oneself self-help" transferring 24.6% shares for HK $ 5 billion NetEase finance, June 8 from cash-Greentown real estate chain trouble in the second half of last year, has sold multiple items to SOHO and sunac China back in China, today announced big action-again-to the warehouse allotment and issue of convertible bond, Kowloon, Hong Kong, finance 5.098 billion Hong Kong dollars, after deduction of the opening net amount to 5.087 billion Hong Kong dollars. Greentown, raiseFunds will be used for general corporate purposes, the repayment of loans and/or for general working capital. After the completion of the rights issue, wharf stake in Greentown real estate at 24.6%, will become a green city's second largest shareholder. Green City in the bulletin is published by the Hong Kong Stock Exchange today, and in Hangzhou held a press conference announcing the partnership. The wharf master's second-largest shareholder of threeYears before may become the major shareholder in this cooperation, wharf is green city held 34.8885 million shares. In addition, as early as a few years ago, Greentown China and Wharf have been "intimate". In April 2009, Greentown China announced on April 10 has a swap agreement with Wharf, will transfer for $ 1.23 billion worth of consideration in Shanghai New jiangwan cityD1 100% interest to the wharf, while the price to $ 1.38 billion acquisition of Kowloon Bay is at the blue Hangzhou qianjiang District 40% interest in a project. Notice display, this collaboration by subscription and invested in two parts. Under the cooperation agreement, the investment will be divided into two steps. First steps for the green city on the wharf about 327 million shares of the share placement,Approximately $ 1.7 billion; second step as a green city to the wharf for about $ 162 million share placement of shares, amounting to some $ 843 million, at the same time to its perpetual subordinated convertible securities issued, further financing to $ 2.55 billion. After the two share placement is complete, wharf holding a green city 24.6% of the enlarged share capital, as the green city of the second-largest shareEast, after Song Weiping's 25.4%. And got two seats for non-Executive Board seats and one seat Greentown Greentown China China financial/investment Committee seats. If Wharf would of convertible bond exchange in 3 years after stocks, stake will increase to 35.1%, and Song Weiping's stake will be diluted to the right 21.9%, at that time, control right from the Green City Song WeiFlip to the wharf. Greentown Song Weiping, President of Board of Directors believes that the cooperation on the green city is of great strategic significance. Green City after 18 years of rapid development, has faced certain bottlenecks are in the strategic transition. Joined the wharf, contributes significantly to enhance the financial stability of Greentown, optimizing the capital structure and the internal risk control, green cityTo continue to improve our product and service advantages at the same time, fully rely on the wharf group operating in the capital, corporate governance, business operations, resource integration, and many other advantages, implementation of sound sustainable development. High end development pattern of indebtedness will continue to sell the project started in September last year, the market has been handed down the Green City bankruptcy by acquisition, survey, various rumors. Chairman Song WeiThen stated that the green city in crisis will be implemented in three steps: an effort to sell their House, for the transfer of the second project, is not only large price cuts to sell House, from this retreat from the real estate market. Subsequently, Greentown has launched its project plans to help themselves. First is on December 29 last year, SOHO China announced through the acquisition, to $ 1.04 billion indirect purchasesIn Greentown China Shanghai beach of the King 10% of which interest, another from the Shanghai subsidiary CERT in wudaokou hand purchase Shanghai Beach King 40% of interest to get the Bund to King 50% of interest. At the beginning of this year, green city to $ 51 million will be sold 51% of its project of Wuxi sunac China. Recent asset sales areOn April 17, at close to $ 2.138 billion takeover of SOHO China Greentown Greentown square day Hill Road with 70% shares, as its market share in Shanghai about 2 years to buy a 11th project. At today's News Conference, Executive Vice Chairman and Chief Executive Officer of the Greentown group Shou Bainian said, still figure to survive the first sales as company of the year,This year will continue to take the form of transfer to other use projects in order to survive, no longer takes the form of higher debt to development. Greentown Clearance sacrifice the project's target for this year is $ 10 billion. Song Weiping, Greentown Group Chairman, also said high liabilities of the Greentown Group officially announced the end of development mode, steady development period will come. He also said, I admit that we did before is not robust enough. For regulation, We are willing to find a very good partner, Association of mutual support. "Song Weiping, next green city there is some change, and the biggest change will be in the last month or 1.5 months out. 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