BRIEF: CR Land approved to issue up to $3.9 billion in notes

1109.HK

Real estate developer China Resources Land Ltd. (1109.HK) said on Monday it has been approved by the Hong Kong Stock Exchange to issue up to $3.9 billion in medium-term notes within the next 12 months. The company said the notes will be offered exclusively to professional investors.

CR Land said it has mandated six banks, including Bank of China, DBS Bank and HSBC, to act as arrangers and dealers for the offering.

The company’s cumulative contracted sales fell 10.4% year-on-year to approximately 154.4 billion yuan ($21.69 billion) in the first three quarters of this year, while its contracted gross floor area for the period totaled about 5.73 million square meters, down 24.1%.

Shares of CR Land opened up 0.14% at HK$29.04 on Tuesday. The stock is down 14% from its 52-week high.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click here

,

Related Articles

RELATED ARTICLES

  1. Kuaishou does entertainment
    BRIEF: Baidu to issue yuan-denominated notes
  2. Shenyang city ups offer for Shengjing Bank to end its misery as a listed company
    2066.HK
  3. Huishang Bank’s double-speak: Talking up profits, while highlighting challenges
    3698.HK
  4. China Travel International sheds property unit to focus on core business
    0308.HK
  5. Will Int’l Entertainment’s billion-dollar gamble finally pay off?
    1009.HK
  6. Can CR Beverage turn the tide after losing brutal water fight?
    2460.HK
    9633.HK
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Geneplus IPO

Geneplus locks onto targeted medicine for IPO pitch

After a post-Covid earnings dip, the company is seeking a stable future as a provider of data and diagnostics for precision medicine and disease prevention   Key Takeaways: The company’s…

Hong Kong’s IPO rally under scrutiny, as ZTE hits new U.S. headwinds

Hong Kong's stock regulator has warned IPO underwriters over the declining qualiy of new listing applications. Is this a red flag for the city's booming IPO market, or just the usual regulatory caution? And the U.S. could fine telecoms equipment maker ZTE $1 billion for bribery in Brazil. Why does Washington think it can force ZTE to pay such a large amount?