Imperium Crown to raise $37.5 mil from 4 investors

SINGAPORE (May 23): Imperium Crown, the property developer and investment company, will raise $37.5 million in net proceeds from selling 300 million new shares to four investors in its acquisition for a 60% stake in GEM.

The four investors are Sino Achieve Enterprises; Soochow Securities CSSD (Singapore); Sun Xiaohui and Li Shanhua.

On May 18, Imperium Crown announced its intention to increase its acquisition stake in GEM to 60% for a purchase consideration of $53.5 million. To recap, GEM, through its subsidiary, holds a 50-year operating rights to Wonder Stone Park, a prominent tourist attraction in Shandong, China, famous for its naturally occurring limestone rocks and boulders. GEM also owns a hotel situated within Wonder Stone Park.

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