Longfor pockets $398 million from largest follow-on in five months

Longfor Properties on Tuesday night raised HK$3.09 billion ($398 million) from a top-up placement. There have been few follow-ons by Hong Kong-listed companies this year, with most of the placement activity focused on sell-downs by existing shareholders, and this is the largest such deal since early April when Kunlun Energy raised $1.35 billion of fresh equity.