beijing-airport-raises-300-million-in-fresh-capital

Beijing airport raises $300 million in fresh capital

The placement is priced close to the mid-point for a 6.9% discount after at least a quarter of the deal is bought by one anchor investor.
Beijing Capital International Airport on Friday sold HK$2.33 billion about $300 million worth of primarily new H-shares to raise part of the financing needed for the acquisition of terminal three from its parent company.

The deal was expected by the market since the company was approaching its annual general meeting on June 12 when its existing mandate to issue new shares corresponding to up to 20% of its outstanding H-shares share capital was due to expire. However, the fact that it came on a Friday û when there are typically fewer potential buyers around û did raise some eyebrows, especially since the company hasnÆt exactly been a market favourite this year and investors know...
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