The company said it would use some of the proceeds for merger and acquisition deals. Photo: Reuters
The company said it would use some of the proceeds for merger and acquisition deals. Photo: Reuters

Country Garden’s property management unit sees share price plunge after announcement of US$1 billion share sale

  • Country Garden Services says it sold 150 million shares at HK$53.35 each, a discount of 9.5 per cent to the closing price on Wednesday
  • The move comes as China’s developers face increasing levels of financial pressure amid a slowing real estate industry

The company said it would use some of the proceeds for merger and acquisition deals. Photo: Reuters
The company said it would use some of the proceeds for merger and acquisition deals. Photo: Reuters
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