CNBM and Hanjin placements raise $431 million

Chinese National Building Material issues new shares, while Hanjin Shipping's second largest investor cashes out. Both deals find healthy demand at discounts of 8.5%-9.5%.

Two equity placements raised a combined $431 million on Thursday night. China National Building Material Company CNBM raised HK$2.34 billion $300 million by selling new shares into the market, while Australian investment fund Wallsend Holdings raised W181 billion $131 million by cashing out of its investment in Korea's Hanjin Shipping Company.

The CNBM trade consisted of 298.5 million H-shares, of which 272 million were new shares, the remaining 25 million were secondary shares sold by China's National Social Security...

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