HONG KONG (Reuters) – Country Garden Services, the property management unit of China’s top developer Country Garden, is selling 150 million new shares at HK$53.35 ($6.85) each on Thursday to raise $1.03 billion, according to a term sheet seen by Reuters.
The number of shares represents 4.5% of the enlarged shares and the selling price represents a 9.5% discount to the last traded price of HK$58.95 on Wednesday. The stock was suspended from trading on Thursday.
($1=7.7889 Hong Kong dollars)
Reporting by Scott Murdoch; Editing by Muralikumar Anantharaman
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HONG KONG (Reuters) – Country Garden Services, the property management unit of China’s top developer Country Garden, is selling 150 million new shares at HK$53.35 ($6.85) each on Thursday to raise $1.03 billion, according to a term sheet seen by Reuters.The number of shares represents 4.5% of the enlarged shares and the selling price represents a 9.5% discount to the last traded price of HK$58.95 on Wednesday. The stock was suspended from trading on Thursday.($1=7.7889 Hong Kong dollars)Reporting by Scott Murdoch; Editing by Muralikumar Anantharamanfor-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up