Property group Seazen plans HK$2.73b new share sale

[HONG KONG] China's Seazen Group said on Tuesday it planned to sell new shares worth HK$2.73 billion (S$473 million) to third party investors and that it would use the proceeds to fund its long-term business development and as general working capital.

The property development and management group plans to sell 311 million shares, representing 5.01 per cent of the enlarged share capital, at HK$8.78 each to at least six independent investors.

The issue price represents an almost 3 per cent discount to Monday's close of HK$9.05 each.

Citigroup Global Markets is global coordinator, bookrunner and the placing agent.

REUTERS