Hang Lung kicks off sector fundraising with $1.42 billion deal

A rare issuer in the equity markets, Hang Lung Properties takes advantage of a record high share price to raise capital for its further expansion in China.

Hang Lung Properties has become the first among the major Hong Kong property developers to take advantage of the reflation story that is boosting expectations for another round of property price increases and has pushed up the entire Hong Kong property sector.

The real estate flagship of the Hang Lung Group on Thursday evening sold HK$11.01 billion $1.42 billion worth of new shares through a top-up placement that was upsized by 9% after the original deal size was about...

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