Sunshine 100 China Holdings Ltd. unit Sunshine 100 Real Estate Group Co. Ltd. will purchase 786,700,000 class X trust units, with a 1 yuan par value, for 786.7 million yuan from trustee Beijing International Trust Co. Ltd.
The unit will make a 110.0 million yuan initial subscription payment within 12 business days of the trust documents' signing date, following which the units will be issued. The group's internal resources will be deployed to fund the consideration.
Funds of the trust, established Dec. 13, 2013, bankrolled the trustee's acquisition of a 89.1089% equity interest in Shaan'xi Jinyuan Napa Property Development Co. Ltd. that owns the Xi'an Napa Xigu – Jiyuan project. Sunshine unit, as sole investor in the trust, will become its single appointor beneficiary, upon completion of the issuance.
As of Dec. 13, US$1 was equivalent to 6.62 yuan.
