Powerlong Real Estate raises HK$792m via top-up

China Property (resized 230)
By Jonathan Breen
15 Oct 2019

Powerlong Real Estate Holdings pulled off a top-up placement on Monday night, raising HK$791.6m ($100.9m) after pricing the deal toward the bottom of guidance.

The mainland-based property developer brought the deal after the Hong Kong stock market closed on Thursday, looking to raise between HK$784.3m and HK$806.3m from 146.6m secondary shares. That was equal to 3.67% of its equity capital, or 3.54% following the placement.

Joint bookrunners Bank of America, CLSA, Credit Suisse ...

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