Joy City Property, Cofco Group’s real estate business, aims to raise up to HK$6.36 billion $820 million in a rights issue to help pay down the December acquisition of Joy City Malls.
Some 4.74 billion shares in Joy City Property will be offered at HK$1.35 per unit on the basis of one share for every two existing shares, according to an announcement on the company’s website.
The offer period...