China Evergrande launches $1bn top-up

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By Jonathan Breen
13 Oct 2020

China Evergrande Group, a property developer, hit investors with a jumbo top-up placement on Tuesday, eyeing proceeds of up to HK$8.4bn ($1.1bn), according to a term sheet seen by GlobalCapital Asia.

Joint placing agents Credit Suisse, Huatai Financial and UBS kicked off an accelerated bookbuild for the deal after Hong Kong markets closed.

The top-up comprises a base offer of 490m shares and an option to add a further 120m shares. Evergrande is offering the stock at between HK$16.50 ...

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