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Hopson to invest further in Scientia
Posted on Wednesday, 08 July 2020 10:59
Hopson Development Holdings is accelerating its development in the high-technology business sector by investing a further USD 500.00 million in Cayman Islands-incorporated Scientia Technologies.
In June, subsidiary Hopson Capital International subscribed for 10.67 million new shares, representing a 1.3 per cent post-issue stake, at USD 9.38 apiece.
The price per share was based on Scientia’s appraised market value of CNY 53.59 billion (USD 7.64 billion), as at 30th April 2020.
Yesterday, Hopson announced Hopson Capital International and the investment holding company entered into another subscription agreement, this time for the issue of 53.33 million class B shares worth USD 500.00 million.
Scientia provides governments, enterprises, and individuals with artificial intelligence, big data analysis, cloud and distributed ledger technology as a way to improve efficiency, reduce costs, increase income, and boost quality of life.
As at 31st December 2019, the company had total assets of CNY 6.47 billion, total liabilities of CNY 5.55 billion and net assets of CNY 19.39 billion.
Hopson is mainly involved in medium-to-high-end large-scale residential and commercial property development and management, and infrastructure.
The investment is consistent with a strategy to diversify into the high-technology business sector.
As at 31st December 2019, Hopson had a liability-to-asset ratio of 63.0 per cent (31st December 2018: 59.0 per cent) and a net debt-to-equity ratio of 66.0 per cent (31st December 2018: 70.0 per cent).
In the 12 months ended 31st December 2019, the company booked revenue of HKD 18.60 billion (USD 2.40 billion), pre-tax profit of HKD 14.76 billion and net profit of HKD 9.65 billion.
Zephyr, the M&A database published by Bureau van Dijk, shows 7,724 capital increases have been announced globally in 2020 to date.
Scientia’s private placement will rank alongside cash calls by Asurani BRI Life, Palantir Technologies, Jackson National Life, Reinsurance Group of America, CMS Energy and US Foods Holding, among others.
© Zephus Ltd