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Qualifying shareholders take up 68% as remainder stays with conditional placees
Underwriting left unused after deal is 33% oversubscribed
Shareholder-backed recapitalisation will help reduce debt and prepare assets for sale or listing
Placing and open offer follows recent acquisition of US annuity provider
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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.
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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.
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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.
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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.
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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.
