Gome then circle 6.55 billion Hong Kong dollars to accelerate expansion – the country the United States, home appliance chain, Chen Xiao – HC network appliance industry-hc360
The Placing Shares and the issuance of convertible bonds, is expected to raise about 65.5 billion
A shares and the return to the introduction of foreign strategic investors and other programs not yet implemented in the short term situation, Gome (0493.HK) is seeking other ways to meet the time being due to the company about fast "enclosure" brought to the huge demand for funds. Gome announced yesterday, in line with the company's future development, the country before the United States will be through the old way of the Placing Shares and after the new issue of convertible bonds to raise funds expected to be about 65.5 million.
States United States Group President Chen Xiao said the company's practice of financing will provide important support for development planning, 40% of the funds raised will be used to further improve the settlement terms with suppliers, 35% of the funds will be used to purchase part of the stores high-quality property, lease new stores, optimize network of existing stores in the shopping environment, the system re-transformation, and the remaining funds for the construction of logistics centers and upgrading of ERP systems.
Worth pondering is that Gome has just announced at last Thursday's unaudited first quarter of 2007 reported a benefit from the merger and the Yongle synergies and economies of scale, the country achieved the first quarter of this year, 169 U.S. billion in net profit. Since the company's performance is good, then why go through placement of shares and convertible bonds issued to misappropriating it? China's biggest home appliances to create a merger of Gome Chairman Huang Guangyu Group really short of money yet?
Huang Guangyu has always been that capital market "players master." Since 2004, the Hong Kong Stock Exchange since the country the United States through the acquisition of Heilongjiang "Black Swan" Shenzhen "easy to good home", Hubei "in Commercial Electric" and Jiangsu, "Golden Sun" crazy expansion, and has opened stores in Hong Kong and Macau. February 2006, the U.S. fund Warburg Pincus by subscription Gome 125 million U.S. dollars issued convertible bonds and warrants received 25 million U.S. dollars 9.71% stake in US-China has become a strategic investor in the country the United States. July 2006, to 5.268 billion Hong Kong dollars Gome "Stock + Cash" in the form of acquisition of China Paradise, and become the mainland's largest home appliance chain.
However, Huang Guangyu not only satisfied in the field of home appliances "clearly place an extra siege." In March of this year, Huang Guangyu dove into the private equity industry, and has met Singapore's Pacific Star Group and U.S. investment bank Bear Stearns co-established a 800 million U.S. dollars in real estate funds and 500 million U.S. dollars of retail investment funds. Thus, the surface, Huang Guangyu was not short of money.
However, in November last year, the inaugural ceremony of new GOME Group, the States United States the company threw out a detailed development plan: break through 100 billion in 2007 sales, stores more than 1000, the profit amounted to 2.3 billion above; In 2008, sales volume will be more than 120 billion; in 2009, sales volume more than 150 billion; in 2010, strive to gradually internationalized market, focusing on network development in South-East Asia, sales volume reached 200 billion, mainland China's market share 20% of the top three global industry.
The face of such a grand plan, the National Yang Qing, spokesman of the United States had also told a press frankly, to achieve such a fast rate of development, countries the U.S. does need a lot of money. As a result, the U.S. president Chen Xiao States has frequently expressed interest to return to the outside world to be in the second half of A shares and the introduction of foreign strategic investors is not surprising.
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