CKI placement

CKI raises $297 million from placement after 24-hour delay

The Hong Kong infrastructure company makes a mess of its top-up placement by announcing an acquisition mid-deal. But after some initial confusion, investors view the purchase of a UK gas distributor as positive.
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Cheung Kong's Hong Kong headquarters
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<div style="text-align: left;"> Cheung Kong's Hong Kong headquarters </div>

It wasn’t exactly the smoothest of executions. In fact, Cheung Kong Infrastructure’s top-up placement is likely to be remembered as one of the messiest ECM deals in quite a while after the company announced an acquisition in the middle of it.

In light of the announcement, which was published on the Hong Kong stock exchange website just before 8am yesterday morning, CKI’s shares was suspended for the entire day while investors tried to get their heads around what was going on.

But after the initial confusion, and after investors were given a chance to reconfirm their orders, the bookrunners were eventually able to wrap up...

¬ Haymarket Media Limited. All rights reserved.

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