Two equity placements raised a combined $431 million on Thursday night. China National Building Material Company CNBM raised HK$2.34 billion $300 million by selling new shares into the market, while Australian investment fund Wallsend Holdings raised W181 billion $131 million by cashing out of its investment in Korea's Hanjin Shipping Company.
The CNBM trade consisted of 298.5 million H-shares, of which 272 million were new shares, the remaining 25 million were secondary shares sold by China's National Social Security Fund Council. The shares represented 33.1% of the company's H-shares and 13.5% of the total share capital.
The deal was launched with a price range of between HK$7.45 and HK$7.85, which was equal...
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