Investors kept busy as four blocks hit the HK market

Shandong Weigao accounts for the bulk of the volume with a $227 million follow-on, while gold miner Sino Prosper raises $54 million of fresh capital and existing shareholders trim their stakes in Value Partners and China Metal Recycling.

Hong Kong’s stock market slumped for a second day running yesterday, but investors clearly aren’t afraid to put their money to work in companies they like, especially not if they can do it at a discount. Indeed, Hong Kong saw no fewer than four placements completed last night, which allowed two companies to raise fresh capital and two existing shareholders to monetise part of their holdings.

Together they raised at least $408 million, although three of the deals were well below $100 million in size.

The largest of the four was a new H-share issue for Shandong Weigao Medical Polymer, which raised HK$1.76 billion $227 million...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222