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China Resources Land Seeks to Raise HK$6.73 Billion via Share Placement

   By Ben Otto 
 

China Resources Land Ltd. (1109.HK) is planning to raise 6.73 billion Hong Kong dollars (US$858.1 million) via a share placement.

The China-focused property developer is seeking to place 200 million existing shares at HK$33.65 each, it said in a filing to the Hong Kong stock exchange on Tuesday.

It aims to use the proceeds from the placement primarily for the acquisition and development of land.

The placement price is at a roughly 6.9% discount to Monday's closing price of HK$36.15. Goldman Sachs is acting as agent for the placement.

 

Write to Ben Otto at ben.otto@wsj.com

 

(END) Dow Jones Newswires

October 21, 2019 21:05 ET (01:05 GMT)

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