Country Garden blooms with $3b equity combo

High-flying homebuilder fires on all cylinders for fresh capital – raising $3 billion in equity just a week after pulling nearly $1 billion from bond sales.

Country Garden blooms with $3b equity combo

Country Garden stunned the market on Tuesday by raising a whopping $3 billion from an equity combo that became easily the biggest deal of the year so far, as the high-flying Chinese property developer makes big moves to restructure its balance sheet at the start of the year.

Tuesday’s equity deal included a HK$15.6 billion $2 billion convertible bond offer and a $1 billion top-up placement of shares in the Guangdong-based developer, which saw...

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