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Follow-ons and Rights issues

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  • China Resources Land (CR Land) plans to raise HK$7.48bn ($965m) in a rights issue following the acquisition of five property development projects in China from its parent.
  • Hsin Chong Construction Group has finalised the terms of its rights issue and placement combo which is expected to raise HK$2.63bn ($339.28m).
  • PICC Property and Casualty Company has raised HK$9.15bn ($1.18bn) in a rights issue of both H- and A-shares that was heavily oversubscribed.
  • Hsin Chong Construction Group, which in late November announced plans to raise around HK$904.1m ($116.6m) from a rights offering, has now added a second underwriter to the issuance after one of its existing shareholders failed to sign up for its rights shares entitlement on time.
  • Chinese online travel booking company Tuniu Corp, which counts Ctrip Investment Holdings and Qihoo 360 Technology as some of its shareholders, is eyeing a $100m follow-on offering before the end of the year.
  • Hong Kong-listed food producer Imperial Pacific International Holdings has raised HK$791m ($102m) in a placement as the company readies funds to develop a casino resort.