HKICIM HK$9.2bn rights offer 71% subscribed
Shares in Hong Kong International Construction Investment Management Group, the property development and machinery leasing unit of Chinese conglomerate HNA Group, closed 2.3% higher on Tuesday after the company wrapped up its fully underwritten HK$9.2bn ($1.2bn) rights issue.
The two-for-one deal consisted of 2.2bn new shares at an offer price of HK$4.08, a premium of 0.99% to HKICIM’s closing share price of HK$4.04 on March 28 — the last trading day before the deal was first announced.
HKICIM received subscriptions for 71.4% of the total
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