Trending: China Vanke to Raise Funds; Shares Fall
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0639 GMT - China Vanke Co. is one of the most mentioned companies in the news over the past eight hours, according to Factiva data, after it said Thursday that it is placing 300 million new H shares at 13.05 Hong Kong dollars each. The real-estate developer said more than half of the proceeds, equivalent to around US$496.8 million, will be used to repay debt, with the balance slated to be used as working capital. The price represents a 6.1% discount to Wednesday's closing level. The share price fell by as much as 5.3% and was last 4.6% lower. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
March 02, 2023 01:55 ET (06:55 GMT)
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