259859

Emperor International establishes property asset investment fund

Emperor International (00163) announced the establishment of a property asset investment fund, covering certain investment properties of the Group, with Emperor Asset Management serving as the investment manager of the fund.

According to the announcement, Emperor Asset Management is a wholly-owned subsidiary of Emperor Capital (00717).

The Group believes that this arrangement can reduce overall operating costs, create synergies and leverage Emperor Capital Group’s customer base to approach suitable investors.

Yang Zhenglong, Vice Chairman and Executive Director of Emperor International, said that the establishment of the Property Asset Investment Fund represents the Group’s treasury strategic plan and provides a new financing channel for business development. The funds from limited partners will allow the Group to obtain immediate cash and enhance cash flow.

The property interests held by the portfolio companies will become fully general partners and will be consolidated into Emperor International’s financial statements.

Source by bastillepost