亚洲视频免费一区,国产欧美综合一区二区,亚洲国产观看,91精品啪在线观看国产91九色,日本又黄又粗暴的gif动态图含羞,麻豆国产一区二区在线观看,中文字幕在线二区

Top Biz News

China Poly to raise $1.4b via share sale

(Agencies)
Updated: 2010-03-23 09:05
Large Medium Small

SHANGHAI: China Poly Real Estate Group Co, the country's second biggest property developer by market value, plans to raise up to 9.6 billion yuan ($1.4 billion) through a private placement of shares to fund expansion.

Related readings:
China Poly to raise $1.4b via share sale China-listed property developers report handsome profits
China Poly to raise $1.4b via share sale Poly Real Estate posts soaring sales in January
China Poly to raise $1.4b via share sale Poly Real Estate sees profit surge on property boom
China Poly to raise $1.4b via share sale Poly Real Estate sees sales value up 155% over 10 months

China Poly plans to sell as many as 700 million shares to select institutional investors, and will use the proceeds to fund 12 real estate projects, the company said in an exchange filing.

Chinese developers are increasingly turning to capital markets for fundraising as the government tightens property lending to cool the country's red-hot real estate market.

China Poly will sell the shares at no less than 17.92 yuan per share, while its parent Poly Group has agreed to buy 100 million to 1.2 billion yuan worth of the new shares, according to the statement.

China Poly, which competes with bigger rival China Vanke and China Overseas Land, estimated in January that its profit jumped by around 50 percent in 2009, helped by a boom in property sales.