Greentown China says that on April 26, it placed 323 million shares with a wholly-owned subsidiary of Xinhu Zhongbao, at a price of HK$9.50 per share. Xinhu Zhongbao (600208) is a company listed on Shanghai Stock Exchange involved in, real estate, financial service and financial technology and high technology investment, and is a constituent of each of CSI 300 and MSCI China A Index, Greentown China said. The placing price represented a premium of 36 percent over the closing price last Friday. The aggregate gross proceeds will be HK$3.06 billion. The proceeds will be used for general corporate purposes, repayment of loan and/or as general working capital, Greentown China said.

Source: The Standard April 27, 2020 02:37 UTC