Chinese health care services firm Alibaba Health Information Technology has raised nearly US$1.3 billion in Hong Kong’s largest follow-on share sale in five years, according a statement from the company today. The company will issue 499 million new shares priced at HK$20.05 apiece, an 8 percent discount to the stock’s HK$21.80 closing price on the Hong Kong exchange on Tuesday, Reuters reports. The final price was at the low end of the flagged HK$20.05 to HK$20.50 range when the deal was launched earlier on Tuesday. The transaction was the largest follow-on share sale on the Hong Kong Stock Exchange since 2015, and the biggest ever health care deal, according to a term sheet reviewed by Reuters. The size of the deal was increased by 25 percent during the institutional bookbuild overnight following high demand from investors.

Source: The Standard August 05, 2020 04:06 UTC