BEIJING, May 13, 2019 /PRNewswire/ -- Fang Holdings
Limited (NYSE: SFUN) ("Fang" or the "Company"), a leading real
estate Internet portal in China,
today provided updates on the proposed separation of China
Index Holdings Limited ("CIH"), a wholly-owned subsidiary of
Fang.
Fang's board of directors has approved the plans to separate CIH
and the related business from Fang by a dividend distribution of
all the issued and outstanding shares of CIH held by Fang to its
shareholders and list CIH's ordinary shares represented by American
depositary shares on the Nasdaq Stock Market. The separation and
distribution will result in two independent, publicly traded
companies. A registration statement on Form F-1 has been filed
by CIH with the Securities and Exchange Commission (the
"Commission") in connection with the proposed separation and
distribution. The separation and distribution is expected to
commence after the Commission completes its review process, subject
to customary closing conditions. There can be no assurance as
to the commencement or completion of the proposed separation and
distribution.
This announcement is being made pursuant to and in accordance
with Rule 135 under the Securities Act of 1933, as amended. This
announcement is not intended to, and does not, constitute an offer
to sell or a solicitation of an offer to purchase any securities,
in the United States or elsewhere,
and it is not intended to, and does not, constitute an offer,
solicitation or sale of any securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful. Any
public offering of securities to be made in the United States will be made by means of a
prospectus that may be obtained from the issuer or the selling
security holder and that will contain detailed information about
the issuer and management, as well as financial statements.
About Fang
Fang operates a leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through its websites, Fang
provides primarily marketing, listing, financial and other
value-added services for China's
fast-growing real estate and home furnishing and improvement
sectors. Its user-friendly websites support active online
communities and networks of users seeking information on, and other
value-added services for, the real estate and home furnishing and
improvement sectors in China. Fang
currently maintains approximately
65 offices to focus on local market needs and its website and
database contains real estate related content covering 657 cities
in China. For more information
about Fang, please visit http://ir.fang.com.
Safe Harbor Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements are made under the "safe
harbor" provisions of 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, and include, without limitation, statements regarding
the commencement and the completion of the proposed separation of
CIH. Such statements are based upon management's current
expectations and current market and other conditions, and relate to
events that involve known or unknown risks, uncertainties and other
factors, all of which are difficult to predict and many of which
are beyond Fang's or CIH's control, which may cause the
commencement and completion of the proposed separation of CIH to
differ materially from those in the forward-looking statements.
Potential risks and uncertainties include, without
limitation, the market and other conditions and Fang's and CIH's
results of operations. Further information regarding these and
other risks, uncertainties or factors is included in the
registration statement on Form F-1 filed by CIH as well as Fang's
filings with the Commission. Fang does not undertake any obligation
to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
law.
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SOURCE Fang Holdings Limited