China Property Group Country Garden to Raise $360 Million via 3.62% New Shares Issuance to Refinance Debt, 12.62% Discount from Market Price
28th July 2022 | Hong Kong
China property conglomerate Country Garden Holdings has announced plans to raise $360 million via 3.62% of new shares issuance to refinance existing debt, with the new share issue representing a 12.62% discount (HKD 3.25) from Tuesday market price (26/7/22, HKD 3.72). With the announcement, Country Garden Holdings share price has declined about 15% (HKD 3.17, 28/7/22), with a current market value of around $9.32 billion. Country Garden, one of the largest real estate company in China, was founded in 1992 by Yang Guoqiang. Today, the largest shareholder of Country Garden is Yang Huiyan (Shares transferred by father & founder Yang Guoqiang), and has an estimated fortune of $11 billion.
“ China Property Group Country Garden to Raise $360 Million via 3.62% New Shares Issuance to Refinance Debt, 12.62% Discount from Market Price “
Country Garden
Country Garden Services Holdings Company Limited was founded in 1992. After 27 years of steady development, the company’s business covers residential properties, commercial properties, office buildings, multi-functional complex buildings, government and other public facilities, industrial parks, highway service stations, parks, schools and so on.
Adhering to service concepts of ‘fulfill and anticipate the needs of property owners’ and ‘center everything around property owners’, Country Garden Services has acquired three major certifications – ISO quality management system, ISO environmental management system and British Standards Institution (BSI) occupational health and safety system. With a strong offline service system, we integrate community business resources, provide full life-cycle services and preserve the clients’ property value, ensuring property owners’exceptional service experience.
As a large group enterprise listed on Hong Kong Stock Exchange’s Main Board (Stock Code: 2007), Country Garden ranks among “The World’s 500 Largest Public Companies” as per Forbes. Country Garden is not just a developer and operator of residential communities, but also constructs and operates green, ecological and smart cities. In 2016, Country Garden’s residential property sales exceeded USD43 billion, covered approximately 37.47 million square meters, and ranked among top three real estate enterprises globally. Country Garden has consistently tried to promote residential civilization. Leveraging a craftsman’s professional spirit, and utilizing scientific planning and human-centric design, it aims to build good and affordable housing for the whole world. Such housing typically features complete community public facilities, beautiful landscape design, and safe and comfortable residential environment. Country Garden has developed more than 700 residential, commercial and urban construction projects globally, and offers its services to more than 3 million property owners.
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