[ET Net News Agency, 20 January 2020] Shimao Property Holdings Limited (00813) said its
placing agent has conditionally agreed to place 158 million existing shares at the placing
price of HK$29.58 per share.
Gemfair Investments Limited (the vendor) has conditionally agreed to subscribe at the
placing price for the same number of new shares as the placing shares that have been
placed by the placing agents.
158 million existing shares represent approximately 4.57% of the issued share capital as
enlarged by the subscription. The placing price of HK$29.58 represents a discount of
approximately 7.85% to the closing price of HK$32.10 per share on 16 January 2020.
The net proceeds to be received by the company from the subscription, after deducting
related fees and expenses, are estimated to be approximately HK$4,638 million. The company
intends to apply such net proceeds for the development of the projects, to repay the
company's debts and for general working capital of the group. (RC)
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00813 SHIMAO GROUP
Nominal 
0.320 +0.015 (+4.918%) Others
20/01/2020 10:52
Shimao Property (00813) to place shares for HK$4,638m
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