Stocks News
- Shimao share sale raises US$699m
Date: 8-May-2007 Sources: (Shenzhen Daily)
SHIMAO Property Holdings Ltd. and its controlling shareholder, billionaire Xu Rongmao, have raised a combined HK$5.5 billion (US$699 million) from the largest secondary stock offering in Hong Kong this year.
The Shanghai-based developer and Gemfair Investments Ltd., a company wholly owned by Xu, together sold 305.8 million shares at HK$17.88 each. The price is at the bottom end of the HK$17.88 to HK$18.27 range at which the offering was marketed to fund managers May 4. Morgan Stanley arranged the sale.
Sponsor Results:
