Yuexiu targets $497m with 33-for-100 rights issue

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By Rashmi Kumar
04 Sep 2014

Yuexiu Property Company is looking to raise HK$3.85bn ($497m) through a 33-for-100 rights issue, as it chooses equity fundraising over taking on additional debt.

The Hong Kong-listed company is issuing 3.1bn shares at a price of HK$1.25, according to a filing on September 3. Yuexiu also has a secondary listing on the Singapore Stock Exchange.

Pricing translates to a 25.15% discount to the closing of HK$1.67 on September 2 and a ...

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