Investors kept busy as four blocks hit the HK market

Shandong Weigao accounts for the bulk of the volume with a $227 million follow-on, while gold miner Sino Prosper raises $54 million of fresh capital and existing shareholders trim their stakes in Value Partners and China Metal Recycling.

Hong Kong’s stock market slumped for a second day running yesterday, but investors clearly aren’t afraid to put their money to work in companies they like, especially not if they can do it at a discount. Indeed, Hong Kong saw no fewer than four placements completed last night, which allowed two companies to raise fresh capital and two existing shareholders to monetise part of their holdings.

Together they raised at least $408 million, although three of the deals were well below $100 million in size.

The largest of the four was a new H-share issue for Shandong Weigao Medical Polymer, which raised HK$1.76 billion $227 million...

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