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Valuation of Yanjiang Toll Road

Valuation of Yanjiang Toll Road for Connected Party Transaction of Jiangsu Expressway (HKEx: 177)'

 

On 23 March 2012, Guangjing Xicheng, a 85% owned subsidiary of Jiangsu Expressway, entered into the Subscription Agreement in respect of Yanjiang Expressway Co with parties including Communications Holdings, pursuant to which Guangjing Xicheng has conditionally agreed to make a cash contribution of RMB1,466,200,000 to Yanjiang Expressway Co in the subscription of approximately 32.26% of the enlarged registered capital of Yanjiang Expressway Co of RMB3,100,000,000 by way of registered capital enlargement. American Appraisal China has conducted Valuation of Yanjiang toll road for this connected party transaction.

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