Greentown returns to market with a $297 million placement

The company takes advantage of a record high share price and positive sector sentiment, but holds off on plans for a concurrent CB that could have doubled the proceeds.

Taking advantage of a strong day in the market and a fresh record high in its own share price, residential property developer Greentown China Holdings yesterday raised HK$2.31 billion $297 million from a top-up share placement.

This was Greentown's second return to the capital markets since its $396 million initial public offering in July last year, with the Zhejiang-based developer also having done a $400 million high-yield bond in November. The IPO came at the tail end of the...

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