CIG Shanghai Raises HK$6.54 Billion from Share, Bond Sales

MT Newswires Live10-14

CIG Shanghai (SHA:603083, HKG:6166) completed a share placement and convertible bond issue to raise total net proceeds of around HK$6.54 billion.

The company placed 18.4 million new Hong Kong-listed shares to raise around HK$1.93 billion, a Wednesday bourse filing showed.

The shares, representing 16.6% and 4.77% of the company's enlarged Hong Kong-listed and total issued shares, respectively, were placed to at least six investors at HK$105.16 apiece.

The company also completed the issue of 3.96 billion yuan of convertible bonds to raise net proceeds of HK$4.61 billion. The bonds started trading on the Vienna MTF operated by the Vienna bourse on Wednesday.

The company has obtained approval for the listing and permission to deal in the shares that will be issued on conversion of the bonds on the Hong Kong bourse.

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