Jingdong Group announced today on the Hong Kong Stock Exchange that Jingdong Group Corporation (the “Company”) today announced that Jingdong Intelligent Industry Development Group (“Jingdong Industrial Development”), a subsidiary of the Company, has completed the mandatory acquisition of China Logistics Assets Holdings Limited (“China Logistics Assets”), whose shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”), and all of the remaining shares of China Logistics Assets have been transferred to Jingdong Industrial Development. The shares of China Logistics Assets are listed on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) and all the remaining shares of China Logistics Assets were transferred to Jingdong Industrial Development.
China Logistics Assets is principally engaged in the leasing of warehouse facilities and related management services in the PRC and pursuant to section 88 of the Companies Law of the Cayman Islands, Jingdong Industrial Development has elected to exercise its right to compulsorily acquire the shares of China Logistics Assets not yet acquired by Jingdong Industrial Development (the “Compulsory Acquisition”) as the valid acceptances received by Jingdong Industrial Development have exceeded the prescribed threshold. As a result, China Logistics Assets has become a wholly-owned subsidiary of Jingdong Industrial Development.
The Hong Kong Stock Exchange has approved the delisting of the shares of China Logistics Assets from the Hong Kong Stock Exchange pursuant to Rule 6.15(1) of the Listing Rules. The last trading day of the shares of China Logistics Assets on the HKSE is 24 June 2022 and the delisting of the shares of China Logistics Assets from the HKSE will commence at 9:00 a.m. on Friday, 15 July 2022.
In addition, China Logistics Assets intends to repurchase and cancel all of its HK$1,109,000,000 6.95% convertible bonds due 2024 (the “2024 Convertible Bonds”) listed on the Hong Kong Stock Exchange on or about 18 July 2022, at which time it will apply to the Hong Kong Stock Exchange for delisting of the 2024 Convertible Bonds from the Hong Kong Stock Exchange. Prior to the delisting, the 2024 Convertible Bonds will remain listed on the SEHK.
The official website of China Logistics Assets shows that China Logistics Assets Holdings Limited CNLP is a logistics infrastructure development platform jointly invested by Yupei International, RRJ Capital and Jingdong in China.
Founded in 2000 and headquartered in Shanghai, China, the company is one of the largest local logistics infrastructure developers and operators in China, covering logistics infrastructure design, development, leasing, operation and management, and mainly serving customers in the fields of manufacturing, retail, e-commerce and logistics services. As of December 2020, CNLP manages and operates 65 logistics parks in 45 cities in China, with a logistics asset portfolio (including under construction and pending development) of over 6,200,000 square meters, forming an efficient logistics facility network covering major logistics hub cities in China.
