Chinese property placements draw strong demand

CC Land pockets $374 million, while Shenzhen Investment raises $168 million.

Two Hong Kong-listed Mainland property companies were in the market yesterday with top-up placements to raise capital for land bank acquisitions. The share sales, which tapped a combined $542 million, came as both companies were trading at or near record levels and as the Hong Kong market finished at a fresh high for a third straight day.

Both deals met with good demand and were increased from the original size, making full and immediate use of their respective options to...

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