HONG KONG, Nov 29 (Reuters) - Hong Kong Exchanges and Clearing Ltd launched on Thursday an up to $800 million stock offering, tapping equity markets within minutes after receiving approval from Britain’s Financial Services Authority for its proposed $2.2 billion acquisition of the London Metal Exchange.
The company is offering new shares in a range of HK$116.1-HK$119 each, IFR, a Thomson Reuters publication, reported, citing a term sheet of the deal. The price is equivalent to a discount of up to 7 percent to Thursday’s close of HK$124.80.
Deutsche Bank AG and UBS AG were hired to manage the share sale, IFR added.
Reporting by Fiona Lau; Writing by Elzio Barreto; Editing by Matt Driskill