Evergrande raises US$1.5b by selling convertible securities
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Shanghai
EVERGRANDE Real Estate Group Ltd will raise US$1.5 billion by selling convertible securities to investors including New World Development Co, replenishing capital after an acquisition spree by the Chinese developer this year.
The investors include New World China Land Ltd and Chow Tai Fook Enterprises Ltd, which are controlled by the family of billionaire Cheng Yu-Tung, Evergrande said in a filing to the Hong Kong stock exchange late on Wednesday. The securities are convertible into stock at HK$8.06 (S$1.46) each, and would give the investors a combined 9.36 per cent stake in the enlarged share capital, China's third largest developer said.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
