Henderson Investment sells $402 million worth of new shares

Parent makes 360 degree turn after failed privatisation plan; allows free-float to increase.

Henderson Investment has raised HK$3.12 billion $402 million from a top-up placement just three months after minority shareholders û for the second time û rejected a plan to privatise the company.

The placement, which accounted for 8.2% of the existing share capital, was done through a bought deal which saw parent company Henderson Land Development sell 230 million existing shares to Credit Suisse, which offered them on to investors at a fixed price of $13.55 apiece. Henderson Land will...

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