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CHINA RES LAND (01109) drops 7.2% on placing
22 Oct 2019
(Infocast News) China Resources Land (01109) fell 7.192% to HK$33.6 after the company intends to place existing shares at a discount to its last closing price, with turnover of HK$8.19 billion.

China Resources Land is planning to raise HK$6.73 billion via a placing. It aims to use the proceeds from the placing primarily for the acquisition and the development of land. The placing price of HK$33.65 is at a 6.9% discount to Monday's closing price.

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