CKI raises $300 million from top-up placement

Cheung Kong Infrastructure (CKI) has raised HK$2.3 billion ($300 million) from a top-up share placement. The bookbuilding was launched at around 5pm Hong Kong time on Wednesday and closed after about four hours. The pricing and allocations went out early yesterday morning.

CKI, part of Li Ka-shing’s Cheung Kong Group and the biggest publicly listed infrastructure company in Hong Kong, offered 50.9 million shares at a price between HK$45.25 and HK$46.50 each, which translated into a discount of 3.1% to 5.7% versus Wednesday’s close of HK$48.