Property News · March 28, 2019

Property giant China Vanke aims to raise US$1 billion in new shares sale as it prepares ‘to survive’ housing market slump


Property giant China Vanke aims to raise HK$7.8 billion (US$1 billion) through a placement of new shares as it prepares to deal with a slowdown in the housing market.Vanke, mainland China’s second-largest developer by sales, said it will place 263 million new shares on the Hong Kong stock exchange at a price of HK$29.68 apiece to raise HK$7.8 billion in capital.The announcement on Thursday came as the mainland’s developers face uncertainty amid a sharp drop in property sales.“They will not rake…

Source : South China Morning Post
Read more…Property giant China Vanke aims to raise US billion in new shares sale as it prepares ‘to survive’ housing market slump

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