China Meidong Auto launches HK$1bn top-up

By Jonathan Breen
02 Jun 2020

China Meidong Auto Holdings turned to investors on Tuesday for up to HK$1.01bn ($130.4m) from a top-up placement, according to a source familiar with the matter.

Bank of America and Goldman Sachs launched an accelerated bookbuild after Hong Kong markets closed, taking orders for a deal of 61.17m new shares.

Meidong Auto is offering the new stock, which represents around 5.3% of its enlarged share capital, at HK$15.84 to HK$16.52 apiece.

The range gives ...

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