Country Garden plans to match 870 million shares of HK $ 2.827 billion to be used for existing overseas debt re -financing

On July 27th, Country Garden (HK02007, the stock price of HK $ 3.21, a market value of HK $ 74.329 billion) issued an announcement. It is planned to place 870 million shares, and the total amount of income from the sale matters is approximately HK $ 2.827 billion.

The announcement shows that on July 27, 2022, Country Garden and the Sales Agent set up a distribution agreement. The company had the conditions to agree to appoint the distribution agency, and the assignment agency had the conditions to agree to serve as the company's agent, and prompted the contractor to subscribe for a total of 870 million shares. The price is HK $ 3.25 per share.

The price per share of HK $ 3.25 per share is compared with the final trading day. The average closing price of the shares reported by the Stock Exchange of the Stock Exchange of the Stock Exchange at the end of the trading day is approximately 2.69%.

The distribution shares accounted for about 3.76%of the issued shares of Country Garden, and about 3.62%of the shares were expanded by issuing and sale shares. The total amount of the income and the net income of the sale matters is estimated to be approximately HK $ 2.827.5 billion and about 2.790.7 billion Hong Kong dollars, and the net price of the shares per share is estimated to be approximately HK $ 3.21.

Country Garden stated in the announcement that the distribution matters are to raise capital for the company and expand their shareholders and capital foundations. Directors believe that the distribution matters will strengthen the Group's financial situation and liquidity, and provide the Group with funds for existing overseas debt re -financing, general operating funds and future development.

Recently, many housing companies, including Country Garden, have a large fluctuation of bonds. In the first half of this year, Country Garden also took the initiative to repurchase bonds, increase holding bonds and company stocks. From December 30, 2021 and as of June 15, Country Garden has announced the accumulated purchase of a total of 55.7 million US dollars. In June of this year, Country Garden took the initiative to repurchase 683 million US dollars in July, of which the total amount of about 411 million US dollars was effectively returned. After the payment was completed, Country Garden had no US dollar bonds during the year.

At the same time, since this year, all directors, supervisors and senior management of Country Garden have continued to purchase Country Garden Real Estate Corporate Bonds in a market -oriented manner. According to the announcement, as of May 5, the cumulative amount of bonds for the company's directors, supervisors and senior management personnel was 40.1602 million yuan.

Daily Economic News

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