Placements in Hong Kong, Philippines

Strong share price gains trigger two more placements

China State Construction raises $293 million from a top-up placement, while Ayala Corp offloads $154 million of treasury shares.
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Hong Kong: Markets remain busy in the run-up to summer holidays
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<div style="text-align: left;"> Hong Kong: Markets remain busy in the run-up to summer holidays </div>

Activity in the Asian equity markets continues with two more deals last night. China State Construction International Holdings boosted its capital by HK$2.27 billion $293 million through a top-up placement that was upsized in full, and Philippine conglomerate Ayala Corp sold Ps6.45 billion $154 million of treasury shares.

The share prices of both stocks were close to 52-week highs and Ayala also came on the back of good demand for two other Philippine deals last week, including a top-up placement by its own property subsidiary Ayala Land. No doubt the company, with the help of Deutsche Bank as the sole bookrunner, was trying to take advantage of that...

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