Greentown Service, Meidong Auto boost placements

By Jonathan Breen
03 Jun 2020

Greentown Service Group, a Chinese property manager, pocketed HK$2.71bn ($350.2m) on Tuesday after increasing the size of a primary share placement.

The company was initially aiming to raise about HK$1.58bn, but placing agents CICC, Citi and Citic Securities were able to add nearly HK$1bn more to the deal after finding a wave of unanticipated demand.

“The placement was covered pre-launch from wall-crossing investors,” said a source close to the deal. ...

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