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China Merchants Property Development Co Ltd to Issue New Shares for Land Acquisition and Fund Raising


Monday, 16 Sep 2013 08:00pm EDT 

China Merchants Property Development Co Ltd announced that it will issue approximately 181 million shares for RMB 26.92 per share to acquire the using right of Shanghai-located land for RMB 4,864.95 million in total. In addition, the Company will also issue up to 66,927,362 new shares for not less than RMB 24.23 per share through a private placement, to raise up to RMB 1,621.65 million in total. The proceeds will be used to acquire the land.