A unit of mainland China’s biggest developer has raised HK$8 billion (US$1.03 billion) by selling shares amid a slowdown in equity and property markets, prompting a slump in the share price.Country Garden Services Holdings, the property management arm of Country Garden, sold 150 million shares at HK$53.35 each, according to a filing to the stock exchange. That was a discount of 9.5 per cent to the closing price of HK$58.95 on Wednesday, before the announcement.“The property market is tough…
Source : South China Morning Post
Read more…Country Garden’s property management unit sees share price plunge after announcement of US billion share sale
