Greenland secures $219m from share sale

The Chinese real estate developer experienced strong demand in a block trade Friday amid a surge in share price performance.

Greenland Hong Kong Holdings raised $219 million from a secondary share sale on Friday night after pricing shares towards the top end of the price range, after a pronounced upturn in stock performance.

The real estate company offered 200 million primary shares at a price range between HK$7.30 and HK$7.50 per unit, representing a 5.4% to a 7.9% discount to the May 14 closing price of HK$7.93 per share, according to a term sheet seen by FinanceAsia. The base deal size accounted for 10.5% of enlarged share capital.

A recent 4.1% drop in Hong Kong's Hang Seng Index since late April...

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