Renhe placement raises $720 million

The operator of underground malls generates enthusiasm for what is essentially a "re-IPO" by announcing a multitude of acquisitions. Meanwhile, China Windpower raises $77 million to fund its expansion.

Renhe Commercial Holdings and its controlling shareholder were in the market yesterday, selling a combined HK$5.58 billion $720 million worth of shares. Two-thirds of the placement was comprised of new shares, which means the company raised about $480 million, which it will use towards the acquisition of operating rights for six underground shopping centres that was also announced yesterday.

The new share portion was by itself larger than Renhe's $435 million initial public offering in October last year, and...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: placement | followon | property | ubs | renewable energy | rbs

Print Edition

FinanceAsia Print Edition

EVENTS