Fang Holdings Announces Formation of Special Committee
BEIJING, Sept. 26, 2023 (GLOBE NEWSWIRE) — Fang Holdings Limited (OTC: SFUNY) (“Fang” or the “Company”), a leading real estate Internet portal in China, today announced that its board of directors (the “Board”) has formed a special committee (the “Special Committee”) consisting of three independent directors, Mr. Huyue Zhang, Mr. Shaohua Zhang and Mr. Changming Yan, to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated September 4, 2023 (the “Proposal”) from Mr. Jiangong Dai (“Mr. Dai” or the “Proposing Buyer”) to acquire all of the outstanding shares of the Company not currently owned by the Proposing Buyer, or any potential alternative transactions.