Execs From Sunac, Vanke Take Seats on Homelink Real Estate Brokerage's Board
Liao Shumin
DATE:  Nov 21 2017
/ SOURCE:  Yicai
Execs From Sunac, Vanke Take Seats on Homelink Real Estate Brokerage's Board Execs From Sunac, Vanke Take Seats on Homelink Real Estate Brokerage's Board

(Yicai Global) Nov. 21 -- Beijing Homelink Real Estate Brokerage Co., one of China's largest real estate agencies, changed its business registration information on Nov. 7, and Sunac China Holdings Ltd. [HK:1918] Chairman Sun Hongbin and China Vanke Co. [SHE:000002; HK:2202] Vice President Liu Xiao joined its board of directors.

Homelink, commonly known as LIanjia in the domestic market, has completed a new round of financing, and the company's registered capital has been adjusted accordingly, the filing shows.

Sunac said in January that it would invest CNY2.6 billion in Homelink for a 6.25-percent stake in the latter. Vanke said that it had acquired a share of Homelink for CNY3 billion in April. Vanke and Sunac have the same stake in the company, the filing shows.

Homelink changed its business information to show that Sunac and Vanke had become its investors in June. Sun and Liu were not Homelink board directors then.

Homelink has four new corporate shareholders -- Zhuhai Hillhouse Deyuan Asset Management Center LP, Shenzhen Huasheng Lingfu Equity Investment LP, Tianjin Zhiping Jinglun Equity Investment LP and Chengdu Chuan Shang Industrial Equity Investment Fund, the latest business registration information shows. They are affiliates of Hillhouse Capital Management Ltd., China Renaissance Capital Investment Ltd., Zhiping Capital and New Hope Group.

This was Zhiping Capital's first time backing Homelink. The other three have invested in the firm before. The company did not disclose the size of this round, so it is difficult to calculate its latest valuation, but previous shareholders' holdings have been diluted.

Homelink's registered capital increased from CNY19.5 million to CNY20.5 million with the addition of investors.

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Keywords:   Beijing Homelink Real Estate,Lianjia