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CHINAHONGQIAO Opens 7.7% Lower after Planning to Raise $11.49B Net with 9.6% Discounted Placing
Recommend 7 Positive 5 Negative 13 |
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CHINAHONGQIAO (01378.HK) planned to raise HKD11.49 billion in net proceeds through a top-up placing with a discount of approximately 9.6%. The stock opened 7.74% lower this morning at HKD29.8, maintaining the placing price of HKD29.2. Before the market opened, 407 million shares were traded, involving HKD11.9 billion. CHINAHONGQIAO announced a top-up placing of 400 million shares of the company, representing approximately 4.03% of the enlarged share capital. The placing price was HKD29.2 per share, which was about a 9.6% discount to yesterday's (17th) closing price of HKD32.3. The net proceeds were expected to be approximately HKD11.49 billion. The Company intended to apply the net proceeds for the development and enhancement of its domestic and overseas projects, repayment of existing indebtedness to optimize its capital structure, as well as for working capital supplement and general corporate purposes. AASTOCKS Financial News Website: www.aastocks.com |
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