China Everbright unit makes offer for Ying Li International

A UNIT of China Everbright , called State Alpha, is making a mandatory unconditional cash offer for Chongqing-based property developer Ying Li International Real Estate at S$0.14 per share.

With this, its stake, combined with parties acting in concert, became 58.91 per cent. The concert parties comprise entities that hold perpetual subordinated convertible securities of Ying Li, and which are related to CEL. This"may involve the disposal or cessation of underperforming businesses and assets and the redeployment of certain employees of the company and its subsidiaries". It will also consider options and opportunities that may present themselves to the company over time.

The acquisition and offer are also expected to improve Ying Li's company profile in the equity and debt capital markets, which could enable it to attract more extensive research coverage and may possibly lead to an overall increase in investor interest and trading liquidity in the shares, leading in turn to higher market valuations.

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