Country Garden placement

Country Garden raises $400 million from share placement

Part of the share sale is linked to the unwinding of a total return swap that Country Garden entered into in connection with a CB issued four years ago.

Country Garden last night raised about HK$3.1 billion ($400 million) from a placement of new shares, grabbing the first market window after it reported strong full-year earnings on Tuesday. The quick move means it was able to tap the market ahead of a number of other Hong Kong-listed Chinese developers that are said to be looking to raise new equity this year.

¬ Haymarket Media Limited. All rights reserved.

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