completes placement

Taking advantage of a strong rally in its share price, the media group issues 450 million shares.

Citigroup completed a top up placement for yesterday Thursday, raising total proceeds of $133 million after the deal was increased by nearly one third on the back of strong subscription. The placement comes on the heels of a strong share price rally, which has seen the stock climb 31.72% year-to-date and as such many are likely to view the deal as an opportunistic cash call.

However, while has outperformed the Hong Kong indices, its performance...

To continue reading, please login or register for free

Click for more on: tomcom | completes | placement

Print Edition

FinanceAsia Print Edition