central-china-real-estate-raises-funds-from-fountainvest-and-west-hill

Central China Real Estate raises funds from FountainVest and West Hill

Henan-based property developer Central China Real Estate raises $99 million of private equity from FountainVest Partners and West Hill.

Henan-based property developer Central China Real Estate has raised HK$765 million $99 million of private equity through an issue of convertible bonds and warrants to FountainVest Partners Asia and West Hill.

FountainVest will buy HK$687 million of bonds, while West Hill will buy HK$78 million of bonds. On conversion of the bonds the investors will own a 10.98% stake in Central China. The bonds convert within six months of issue at a price of HK$3.10 each, which represents a premium of 29.7% over the closing price of Central China shares on the Hong Kong Stock Exchange on August 4 and a similar premium...

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