China Hongqiao Group Seeks to Raise $1.48 Billion Via Share Placement
By Megan Cheah
China Hongqiao Group is raising over US$1 billion through a share placement as it seeks to repay its debt and expand its business.
The Shandong-based aluminum producer's placement of up to 400 million shares is expected to raise net proceeds of 11.49 billion Hong Kong dollars, equivalent to US$1.48 billion, it said Tuesday.
The shares are priced at HK$29.20 apiece, which is a 9.60% discount to the last traded price of HK$32.30.
China Hongqiao's shares have more than doubled year to date, according to LSEG data.
The company likely took the opportunity to raise funds as the stock's momentum is strong, said Brian Freitas of Periscope Analytics, who publishes on Smartkarma.
The stock looks poised to be included in some indexes and exchange-traded funds, such as the iShares China Large-Cap ETF, he added.
UBS Hong Kong and CMB International Capital are among the banks advising China Hongqiao on the deal.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
November 17, 2025 19:54 ET (00:54 GMT)
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