Hang Lung raises funds for development projects in China

Mixed day for the primary markets as Hang Lung takes advantage of strong momentum and China Guofeng drops IPO.

Hong Kong property developer Hang Lung Properties made an opportunistic trade in the Asian equity markets yesterday November 29 raising HK$4.44 billion $570 million from an increased top up placement via Credit Suisse First Boston. The deal appeared incredibly well timed, coming on the back of a big upswing in property stocks and market liquidity.

Where the former is concerned, HLP is up 29% year-to-date, outpacing the Hang Seng Index, currently up a far more...

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