Agile's HK$2.8b rights offer cancelled

Hong Kong

AGILE Property Holdings Ltd, the Chinese developer whose shares have been halted since Oct 3, said it will not proceed with a HK$2.8 billion (S$461 million) rights offering.

It has not gone ahead with the sale according to the timetable pending the release of a statement concerning insider information, it said in an announcement to the Hong Kong stock exchange. The agreement with banks to arrange the sale will lapse as a result and the offering won't proceed, it added.