Fang Enters into an Agreement to Acquire Equity Interests in CIH
Fang Holdings Limited American Depositary Shares (Each representing Four Class A Ordinary Shares, HK$1.00 par value) (SFUN)
Last fang holdings limited american depositary shares (each representing four class a ordinary shares, hk$1.00 par value) earnings: 11/30 06:22 am
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US:NYSE Investor Relations:
ir.fang.com
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Source: PR Newswire
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 g
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