Private placements

Club deals flavour of the month in Hong Kong

Huadian Fuxin Energy is the latest Hong Kong-listed Chinese company to raise capital via a private placement, following similar deals by China Oilfield Services and China Suntien.

Huadian Fuxin Energy said on Monday that it was selling new shares at HK$3.30 each to a small group of investors, the most recent Chinese company to tap the markets in such a swift fashion ahead of the Chinese New Year holidays.  

The Fujian-based clean energy company raised about HK$1.178 billion $152 million over the weekend to boost its working capital, according to a person familiar with the matter.

Huadian Fuxin is the latest H-share listed company this year to go the route of a private placement, following China Oilfield Services COSL which pocketed US$759 million in early January and China Suntien...

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