Shareholders raise $110 million from Asia Cement block sale

Taiwan's Asia Cement joins a flurry of follow-on deals in Asia, while Chinese property developer Evergrande launches a top-up placement worth $580 million.
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Yu Yuan Investment and Bai Ding Investment sold $110 million of Asia Cement shares
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<div style="text-align: left;"> Yu Yuan Investment and Bai Ding Investment sold $110 million of Asia Cement shares </div>

Two shareholders in Asia Cement reduced their stakes in the Taiwanese cement producer last night, raising NT$3.2 billion $110 million after fixing the price at the bottom of the indicative range.

It was a busy night in the equity capital markets in Asia, with a couple of block and CB deals launched in one night. Another block deal in the market was Evergrande Real Estate Group, a Hong Kong-listed large-scale integrated residential property developer in China. It is seeking to raise up to $580 million, or up to $697 million if the upsize option is to be exercised, from a top-up placement.

In Taiwan, Asia Cement’s...

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