BEIJING, Oct. 31, 2014 /PRNewswire/ -- SouFun Holdings
Limited (NYSE: SFUN, "SouFun" or the "Company"), the leading real
estate Internet portal in China,
today announced that it has entered into investment and joint
venture agreements with one of China's top 5 leading new home agency
companies, Tospur Real Estate Consulting Co., Ltd. ("Tospur").
Pursuant to the investment and joint venture agreements with
Tospur, (1) SouFun will subscribe for new shares of Tospur in a
private placement for 16% of Tospur's outstanding share capital
after the completion of the private placement for approximately
RMB381 million (US$62 million) in cash; and (2) SouFun and Tospur
will invest RMB60 million
(US$9.8 million) and RMB40 million (US$6.5
million), respectively, to form a joint venture to provide
real estate internet financing services. Closing of the
transactions contemplated by the investment and joint venture
agreements are subject to customary closing conditions, including
regulatory approval.
Vincent Mo, SouFun's Chairman and
CEO, comments: "This is another exciting achievement in SouFun's
Cooperation Partners Program with real estate brokers and agents.
As the leading online platform in China's huge real estate market, SouFun has
been looking for the leading off-line players to work together for
the industrial upgrade of China's
expanding new home and resale market. Tospur is one of the front
runners of China's new home agency
and consultancy companies, one of the best choices for forming
strategic O2O partnerships for SouFun. I am sure that the strategic
cooperation partnership will not only allow SouFun a broader and
deeper access in real estate transactions but also enhance Tospur's
leadership, innovation, and evolvement by integrating internet and
mobile elements into its very successful offline operations."
About Tospur
Formed in Shanghai in 1998, Tospur
is a leading real estate service provider in China. It offers real estate marketing and
sales agency service, financial services, commercial property
operation service, and consulting services in China's fast growing real estate market.
Tospur employs more than 5000 people across the country. In its
entire 16-year history, Tospur always focuses in the area of real
estate services, and has won various professional awards and has
been selected as one of "China's
Top Employers" for the past four consecutive years. In addition to
Shanghai, it has nearly 30
subsidiaries which operate a large number of projects in
China's major urban centers.
About SouFun
SouFun operates the leading real estate Internet portal in
China in terms of the number of
page views and visitors to our websites in 2013. Through SouFun's
websites, it provides marketing, e-commerce, listing, and other
value-added services for China's
fast-growing real estate and home-related sectors. SouFun's
Internet portal is highly focused on user experience, and supports
SouFun's users in seeking information on the real estate and
home-related sectors in China.
SouFun currently maintains about 100 offices to focus on local
market needs and its website and database contains real estate
related content covering more than 370 cities in China. For more information about SouFun,
please visit http://ir.fang.com.
Safe Harbor Statement
The Company cautions its shareholders and others considering
trading its securities that there can be no assurance that these
strategic cooperation agreements will be approved or the share
subscription transactions will be consummated. This news release
contains "forward-looking statements" within the meaning of Section
27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will,""expects,""is expected
to,""anticipates,""aim,""future,""intends,""plans,""believes,""are
likely to,""estimates,""may,""should" and similar expressions. Such
forward-looking statements include, without limitation, the
Company's plan to form strategic partnerships and collaborate and
explore real estate internet financing business with Tospur,
comments by management in this release about the success and
benefit of its strategic cooperation partnerships, and about
China's real estate market. All
statements other than statements of historical fact in this press
release are forward-looking statements and involve certain risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. These
forward-looking statements are based on management's current
expectations, assumptions, estimates and projections about the
Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties. Further information
regarding these and other risks is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
For investor and media inquiries, please contact:
Dr. Hua Lei
Deputy CFO
Phone: +86-10-5631-8661
Email: leihua@soufun.com
Ms. Yiwen Zhang
Investor Relations Manager
Tel: +86 (10) 5631-8659
Email: zhangyiwen@soufun.com
SOURCE SouFun Holdings Limited