Property News · June 4, 2020

Vanke, China’s third-largest developer, seeks to ease coronavirus pain by floating additional shares in Hong Kong and raising US$1 billion


China Vanke, the mainland’s third-largest home builder, aims to raise HK$7.87 billion (US$1.01 billion) in fresh capital to repay overseas debt and boost its working capital by floating additional shares in Hong Kong.In a filing to the city’s exchange on Thursday, Vanke said it will sell 315.59 million shares at HK$25 each. The offer price represents a 4.8 per cent discount to Wednesday’s close of HK$26.25. Its H shares edged up 0.2 per cent to HK$26.3 on Thursday morning, while its Shenzhen…

Source : South China Morning Post
Read more…Vanke, China’s third-largest developer, seeks to ease coronavirus pain by floating additional shares in Hong Kong and raising US billion

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