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Follow-ons and Rights issues

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  • Shareholders in JD.com have raised $619m by selling some of their holdings in the Chinese online retailer, in a deal that was increased in size from the launch amount. There was no price sensitivity among investors, who clamoured for stock even as the share price spiked by 9% during bookbuilding.
  • Southeast Asia Cement Holdings has received board approval to offer for sale or subscription new common shares by way of a public offering in the Philippines.
  • Wereldhave on Monday set the terms of its €550m rights issue, as the Dutch property company seeks money to finance its acquisition of six shopping centres in France.
  • Peking University Resources will open books at the end of December for a HK$1.93bn ($248.47m) placement to fund the purchase of property development projects in China.
  • Ping An Insurance Group has raised HK$36.8bn ($4.75bn) from a private placement of shares, with the tight pricing on the deal leading to the stock being allotted to the highest quality of investors with a long term view on the company.
  • Hsin Chong Construction Group is planning a rights issue and placement that could raise up to HK$2.67bn ($344.33m) in proceeds to fund its property development activities in China.