China Resources Land brings placement

Property developer takes advantage of share price run up.

Property developer China Resources Land raised $143 million from a top-up placement through JPMorgan on Friday (January 20), taking advantage of a strong run in its share price over the past couple of months

The company placed 300 million shares at a price of HK$3 725 each, representing a discount of 8 02% to Friday's closing price of HK$4 05 The shares were initially offered in a range of HK$3 60 to HK$3 85, or a discount of 4 94% to 11 11%

The shares were sold by China Resources (Holdings), who will subscribe to the same amount of new shares at the same price The new shares will account for about 10 8% of...

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