![]() | |
Publicly traded company [1] | |
Industry | Real estate |
Founded | 2007 |
Headquarters | Shanghai , People's Republic of China |
Area served | People's Republic of China |
Key people | Chairman: Zhang Zhi-Rong |
Website | Glorious Property Holdings Limited |
Glorious Property Holdings Limited (Chinese :恒盛地产) (SEHK : 0845) is a Shanghai-based property developer, established in 1996. It has a land bank of 13.6 million square meters in cities like Shanghai, Beijing and Tianjin.
Chinese is a group of related, but in many cases not mutually intelligible, language varieties, forming the Sinitic branch of the Sino-Tibetan language family. Chinese is spoken by the ethnic Chinese majority and many minority ethnic groups in China. About 1.2 billion people speak some form of Chinese as their first language.
The Stock Exchange of Hong Kong Limited, abb. SEHK, is Asia's third-largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and Shanghai Stock Exchange, and the fourth single largest stock market in the world. As of 31 October 2016, SEHK had 1,955 listed companies, 989 of which are from mainland China, 856 from Hong Kong and 110 from other countries and region Hong Kong Exchanges and Clearing owns SEHK and is itself listed on SEHK. It is the fastest growing stock exchange in Asia.
Shanghai is one of the four municipalities under the direct administration of the central government of the People's Republic of China, the largest city in China by population, and the second most populous city proper in the world, with a population of 24.18 million as of 2017. It is a global financial centre and transport hub, with the world's busiest container port. Located in the Yangtze River Delta, it sits on the south edge of the estuary of the Yangtze in the middle portion of the East China coast. The municipality borders the provinces of Jiangsu and Zhejiang to the north, south and west, and is bounded to the east by the East China Sea.
Glorious Property was incorporated in the Cayman Islands in July 2007 and develops property mostly in China. Projects include Sunshine Holiday in Tianjin and Shanghai Bay, situated along the Huangpu River. Its first property was the Sunshine Greenland hotel in Shanghai in 1996.
The Cayman Islands is an autonomous British Overseas Territory in the western Caribbean Sea. The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the south of Cuba and northeast of Honduras, between Jamaica and the Yucatán Peninsula. As of spring 2018, the total population of the Cayman Islands is estimated to be 64,420 making it the second-most populated British overseas territory after Bermuda. The capital city is George Town, situated on Grand Cayman, by far the most populous of the three islands.
The
The company as of July 2009 had 19 projects in various stages of development (seven of them in Shanghai) with a total land bank of around 13.6 million square meters.
Zhang Zhi Rong, founder, chairman and controlling shareholder, has more than 13 years experience in the industry, and before that was involved in construction materials trading and sub-contracting.
In September 2009, it is seeking a Hong Kong Stock Exchange initial public offering of US$1.53 billion. Glorious Property is due to list on the Hong Kong stock exchange on October 2.
Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors; an IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. Initial public offerings can be used: to raise new equity capital for the company concerned; to monetize the investments of private shareholders such as company founders or private equity investors; and to enable easy trading of existing holdings or future capital raising by becoming publicly traded enterprises.
Glorious Property is seeking to sell 2.25 billion shares at a price range of four Hong Kong dollars to HK$5.30 (52 U.S. cents to 68 U.S. cents) each, translating to a forward price/book multiple of 9.5 to 12.4 times. The company also has an option to increase the deal size by 15% to raise a total of US$1.76 billion. Four cornerstone investors have already been guaranteed US$130 million worth of shares, including Sino-Ocean Land Holdings Ltd., Shanghai Industrial Holdings Ltd., China Southern Fund Management Co. and a private company under Hong Kong conglomerate Nam Fung Group.
Shanghai Industrial Holdings Limited or SIHL is a conglomerate company consisting of real estate, infrastructure, medicine and consumer products businesses in Shanghai, China. The majority shareholder of SIHL is Shanghai Industrial Investment (Holdings), which is supervised by the Shanghai Government.
Zhang also reportedly controls:
These two affiliates gained attention in July 2012 when the US SEC got a court order to freeze assets in an insider trading case involving $13 million in gains on shares of Nexen, [2] a Canadian oil company for which CNOOC had recently announced a tender offer. [3]
Zhang co-founded China Rongsheng Heavy Industries Group, China's biggest non-state-owned shipbuilder by order book in 2012, in 2005. Rongsheng Heavy signed a strategic-cooperation agreement with Cnooc in 2010 and delivered "a 3,000-meter deepwater pipe-laying-crane vessel" in 2011. Zhang, "43 years old and ranked 22nd on Forbes's China wealth list" with a net worth of about $2.6 billion in 2011, was not accused of any wrongdoing in the SEC complaint. [4]
Settlements were negotiated with the SEC: [5]
In October 2012, the SEC announced a settlement with the lead defendant, Well Advantage, which agreed to pay more than $14.2 million to settle the insider trading charges. ... [I]n March 2013, ... a Hong Kong-based broker, her husband, and her brokerage clients agreed to pay more than $3.3 million to settle the SEC's claims. ... [In May 2013, a] Singapore resident ... [reached agreement for] disgorgement of her ill-gotten gains of $466,477.62 and a penalty of $100,000 ... [and] permanently enjoining her from future violations.
Agricultural Bank of China (ABC), also known as AgBank, is one of the "Big Four" banks in the People's Republic of China. It was founded in 1951, and has its headquarters in Dongcheng District, Beijing. It has branches throughout mainland China, Hong Kong, London, Tokyo, New York, Frankfurt, Sydney, Seoul, and Singapore.
Ping An Insurance known also as Ping An of China, full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries mainly deal with insurance, banking, and financial services. The company was founded in 1988 and has its headquarters in Shenzhen. "Ping An" literally means "safe and well".
China Baowu Steel Group Corp., Ltd., commonly referred to as Baowu Steel, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China.
The Shanghai Stock Exchange (SSE) is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other being the Shenzhen Stock Exchange. Shanghai Stock Exchange is the world's 4th largest stock market by market capitalization at US$5.5 trillion as of April 2018. Unlike the Hong Kong Stock Exchange, the Shanghai Stock Exchange is still not entirely open to foreign investors and often manipulated by the decisions of the central government. This is due to tight capital account controls exercised by the Chinese mainland authorities.
CNOOC Limited (中国海洋石油有限公司) is China's largest producer of offshore crude oil and natural gas. It is a major subsidiary of China National Offshore Oil Corporation (CNOOC) and has been listed in Hong Kong SEHK: 883 and in New York NYSE: CEO since February 2001. It was admitted as a constituent stock of the Hang Seng Index in July 2001. In September 2013 it was listed on the Toronto Stock Exchange following its acquisition of Canadian oil and gas company Nexen Inc.
Nexen is a Canadian oil and gas company based in Calgary, Alberta. On 25 February 2013, Nexen became a wholly owned subsidiary of Hong Kong-based CNOOC Limited.
China Pacific Insurance (Group) Co., Ltd. (CPIC) known as Pacific Insurance, is a Chinese insurance company. It was established on the basis of the former China Pacific Insurance Corporation, which was founded in 1991 approved by the People's Bank of China. Its headquarters is in Shanghai.
Shanghai Forte Land Company Limited, or Shanghai Forte Land and Forte Land, is one of the largest real estate developers in Shanghai, China. It is founded by Chinese billionaire Guo Guangchang in 1994 and it is headquartered in Shanghai. It has developed several dozens of real estate projects in major cities such as Shanghai, Beijing, Wuhan, Nanjing, Wuxi, Chongqing, Tianjin, Haikou and Hangzhou.
Tianjin Development Holdings Limited or Tianjin Development is a conglomerate engaged in container terminal operations, toll roads, water supply, electric utilities, pharmaceuticals and property development in Tianjin, China. In 2005, Tianjin Development split Tianjin Port Development to be listed on the Hong Kong Stock Exchange.
Shimao Property Holdings Ltd. is a diversified real estate development company that specializes in property development, property investment, and hotel operations in the People's Republic of China. The group develops large-scale residential projects, hotels, and other commercial buildings in prime locations, and it is one of the largest property developers in the People's Republic of China. As of February 2013, Shimao Property Holdings Ltd. owned a bank of land totaling 36.2 million square meters, making it one of the top real estate developers in China in terms of land bank size.
China National Offshore Oil Corporation, or CNOOC Group, is one of the largest national oil companies in China. It is the third-largest national oil company in the People's Republic of China, after CNPC and China Petrochemical Corporation. The CNOOC Group focuses on the exploitation, exploration and development of crude oil and natural gas in offshore China, alongwith its subsidiary COOEC.
Guosen Securities Company Limited is a Chinese state-owned financial services company headquartered in Shenzhen, China, with more than 70 branches and 11,500 employees nationwide. It has offices in 47 major cities in China including Shenzhen, Beijing, Guangzhou, Foshan, Nanjing, Shanghai, Tianjin and Hong Kong. Guosen Securities provides sales and trading, investment banking, research, asset management, private equity, and other financial services with both institutional and retail clients in China and Hong Kong. It also operates a trading platform called GuoXin TradingStation.
Sunac China Holdings Limited, or Sunac, is a major property developer headquartered in Tianjin, China. The company focuses on large-scale, medium to high-end property developments. It does not only focus on its home market of Tianjin, but also has operations in Beijing, Chongqing, Wuxi and other cities.
Oceanwide Holdings Co., Ltd. is a Chinese publicly traded conglomerate. It was a subsidiary of Tohigh Holding, via intermediate holding companies Oceanwide Group and China Oceanwide Holdings Group.
China Orient Asset Management Co., Ltd. is a Chinese state-owned enterprise. The company is an asset management company and a merchant bank originated as a bad bank for the Bank of China. The bank received shares from debt-to-equity swap of non-performing loans.
CSC Financial Co., Ltd. trading as China Securities, is a Chinese investment bank and brokerage firm established by CITIC Securities and China Jianyin Investment in 2005 in a 60–40 ratio, as a successor of bankrupted China Securities Co., Ltd. (CSC). However, the firm now majority owned by Jianyin Investment's parent company Central Huijin Investment and an asset managing subsidiary of Beijing Municipal People's Government.
Bank of Tianjin is a city commercial bank headquartered in Tianjin, People's Republic of China and regulated by the People's Bank of China.
Hainan HNA Infrastructure Investment Group Co., Ltd. formerly Hainan Island Construction Co., Ltd. is a Chinese listed company based in Haikou. in mid-2016 the company acquired HNA Infrastructure Group in a reverse IPO from intermediate parent company HNA Infrastructure Holding Group, which HNA Infrastructure Group is the parent company of HNA Real Estate and HNA Airport Group ; HNA Airport Group is the largest shareholder of Haikou Meilan International Airport, which in turn the largest shareholder of Hong Kong listed company HNA Infrastructure. In December 2016 a proposed capital increase of the HK-listed company was announced. HNA Infrastructure Investment Group would purchase a minority share directly. Haikou Meilan International Airport was the second-largest shareholder of Hainan Airlines; Hainan Airlines, however, also owned a minority stake in Haikou Meilan International Airport.
Shanghai Fosun Pharmaceutical (Group) Co., Ltd., known as Fosun Pharmaceutical or just Fosun Pharma is a Chinese listed pharmaceutical company. It was majority owned by Fosun International. Fosun Pharmaceutical is the co-owner of Sinopharm Industrial Investment, the parent company of fellow listed company Sinopharm Group.