hkc-holdings-raises-162-million-from-placement

HKC Holdings raises $162 million from placement

The top-up placement comes a few weeks after the property company issued shares to Cerberus and Penta.
HKC Holdings, a Hong Kong-based property company, sold HK$1.26 billion $162 million of shares in a top-up placement on Tuesday.

The company sold 450 million new shares at HK$2.80 per share, equivalent to approximately a 10.54% discount to the closing price of HK$3.13 per share on July 31, and approximately an 18.41% discount to the average closing price of about HK$3.43 per share for the last five trading days.

ôPeople knew the trade was coming, because they knew HKC had to sell shares, but they just didnÆt know when,ö says a person close to the deal.

The reason investors knew the top-up placement was coming was earlier this month, on July...
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