Shares of property developer China Vanke are sliding more than 5% in Hong Kong, while its Shenzhen-listed shares are down more than 2%, both hitting the lowest levels since November last year.
Vanke said that it plans issue 300 million shares via a new share placement in Hong Kong, accounting for 13.6% of the existing H-shares and 2.51% of its total share capital. The shares will be offered at a price of HK$13.05, representing about 6.12% discount to its closing . . .
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