hk-market-pauses-but-placements-keep-coming

HK market pauses but placements keep coming

Franshion Properties sells $250 million worth of shares of which 60% are new, while management shareholders in China Dongxiang attempt to offload $110 million worth of shares.

While the Hong Kong stockmarket took a breather yesterday and closed marginally lower, companies and existing shareholders continued to take advantage of what is generally regarded as an improvement in sentiment for equities with three more deals launched.

The largest was a combined sale of new and existing shares in Franshion Properties China, which came a couple of weeks after the company beat a number of larger players to win the auction of a coveted commercial property site in Beijing for Rmb4.06 billion $595 million. According to media reports, the site is referred to by industry insiders as the only prime land left in Beijing's central business district and it is therefore not...

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