Henderson Land returns to equity markets

After watching its stock price double in the space of three months, Hong Kong property developer Henderson Land decides to raise cash for new projects.

HSBC completed a top up placement for Henderson Land yesterday Monday raising HK$3 billion $388 million for the property developer. The structure of the transaction meant the company's major shareholder Lee Shau Kee subscribed for an equal number of shares to the ones sold, in the process slightly diluting his stake from 64.5% to 61.2%.

With CLSA as joint lead, a total of 92.44 million primary shares were sold at HK$32.45. This represents a 7% discount to the stock's close and 25 days trading volume.

While the discount is wider than has been seen in the recent past, the deal size is much larger. The stock is also up...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222