SGX welcomes Chiwayland International to Mainboard

Investors, say hello to the Yangtze River Delta.

RH Energy Ltd has been renamed to Chiwayland International Limited on the back of a reverse takeover by Chiwayland Group Singapore for a consideration of $399 million, satisfied by a combination of cash and issue of shares by RH Energy Ltd.

Chiwayland International is a property developer involved in the development, project management and sale of residential and commercial properties in the Yangtze River Delta region in China.

Here’s more from SGX:

Kevin Qian Jianrong, Chairman and CEO of Chiwayland International Limited, said: “We are happy to be listed on the Mainboard of SGX. Chiwayland offers an opportunity for investors to be exposed to China’s property sector. Chiwayland will continue to focus on utilizing our capabilities and experience in township planning, design, and integration of education and lifestyle elements into our property developments to create vibrancy in cities. We are committed to continue growing prudently from strength to strength, and seizing opportunities to expand progressively beyond China. The success of our listing is an affirmation of investors’ confidence in Chiwayland’s track record, and our growth prospects.”

Lawrence Wong, Head of Listings at SGX, said: “We are pleased that Chiwayland International has chosen to list on SGX and look forward to support them as they leverage on our platform to grow their business.”