chinese-property-placements-draw-strong-demand

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 sell more shares.

CC Land Holdings, which focuses on property development in Western China, raised HK$2.92 billion $374 million after pricing its offering at the top of the indicated range. The final price of...
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