Market recovery prompts developers to sell shares

China Resources Land raises $555 million and Indiabulls takes home $545 million after both deals are upsized.

China Resources Land and Indiabulls Real Estate were both in the market last night in an attempt to raise new capital on the back of strong share price recoveries and investors did not disappoint. Both deals attracted strong demand and were significantly upsized, allowing CR Land to raise HK$4.3 billion $555 million and Indiabulls to walk away with Rs26.8 billion $545 million, making them the two largest equity capital raisings in Asia this year, aside from the rights...

To continue reading, please login or register for free

Click for more on: placement | qip | property | credit suisse | morgan stanley

Print Edition

FinanceAsia Print Edition