Longfor nets $606m from top-up, stock nosedives

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By Jonathan Breen
02 Dec 2020

Chinese property developer Longfor Group Holdings tapped equity investors for HK$4.7bn ($606.3m) through a top-up placement on Tuesday.

Bookrunners CICC, Goldman Sachs, HSBC and Morgan Stanley launched the top-up after trading finished in Hong Kong on Tuesday. They were tasked with selling 100m shares – half primary and the balance secondary.

Longfor initially offered the stock at HK$47.00 to HK$48.51, according to a source close to ...

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