Alibaba Pictures Group became the latest mainland company to secure funds through a private placement in Hong Kong, raising HK$12.1 billion $1.56 billion.
The share-sale in Alibaba Pictures, the flagship unit of Alibaba’s entertainment arm, came amidst a 1.9% drop in Hong Kong’s stock markets on Thursday morning.
On offer were some 4.2 billion new shares at HK$2.90 per unit, according to a company statement.
At HK$2.90 per unit, the shares were offered at a 19.9% discount to the June 1 closing price of HK$3.62 per share, and a 12.9% discount to the average closing price of HK...
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