Yep investing in China..... land of great opportunity.....not
Renhe’s deal for eight farmers’ markets in six cities across China is designed to generate minimum annual profit from rents of 625 million Hong Kong dollars, or about $80 million. But it comes with a twist. Renhe is buying the markets from one of its directors, who is also the wife of the company’s chairman and controlling shareholder.
It will settle most of the purchase price by issuing new shares — but those shares will be issued at a 50 percent discount to where the stock traded before the deal was announced.
The developer said it saw the potential for more than just rental yields. The company wants to create an agricultural e-commerce business “by bringing together traders through an electronic trading platform and network to create virtual market places.”