Real estate developer Country Garden Holdings Co. Ltd. (2007.HK) said Wednesday it plans to raise about 23.3 billion Hong Kong dollars (US$3 billion) via a share placement and a convertible bond issue.
The Hong Kong-listed developer said it will place 460 million shares at HK$17.13 each, representing 3.66% discount to its last closing price of HK$17.78 Tuesday. The placement shares represent 2.12% of firm's enlarged share capital. Country Garden will also issue HK$15.6 billion worth of convertible bonds via its wholly-owned unit Smart Insight International Ltd., it said.
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The developer said it will use the net proceeds for debt repayment as well as general working capital.
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(END) Dow Jones Newswires
January 16, 2018 20:13 ET (01:13 GMT)