CKI raises $297 million from placement after 24-hour delay

The Hong Kong infrastructure company makes a mess of its top-up placement by announcing an acquisition mid-deal. But after some initial confusion, investors view the purchase of a UK gas distributor as positive.

CKI raises $297 million from placement after 24-hour delay

It wasn’t exactly the smoothest of executions. In fact, Cheung Kong Infrastructure’s top-up placement is likely to be remembered as one of the messiest ECM deals in quite a while after the company announced an acquisition in the middle of it.

In light of the announcement, which was published on the Hong Kong stock exchange website just before 8am yesterday morning, CKI’s shares was suspended for the entire day while investors tried to...

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