Bigger placement nets Fortune Reit $126m
Fortune Real Estate Investment Trust raised HK$975m ($126m) on July 30 through a placement of 143m primary units as demand from long-only funds and real estate-focused accounts allowed it to increase the size of the deal.
The units were sold at a price of HK$6.82, a 4.4% discount to the average closing price on July 29 derived from the company's shares on both the Hong Kong Stock Exchange and the Singapore Stock Exchange.
This was slightly below the mid-point of an indicative price range ...Already a subscriber? Login
Further Reading
-
IPOs
European ECM suffers as US sell-off continues
-
Africa
'Everything else is secondary' to debt transparency as Zambia-IMF talks extended
-
Market News
China policy and markets round-up: CBIRC chief warns against inflow risks, issuers move to exchange market for carbon neutrality bonds
-
Regulation & Policy
Two Sessions special: China takes cautious approach to 2021 GDP growth, cuts budget deficit target and local government bond quota