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Greentown China issues shares to meet IPO demand
Last Updated(Beijing Time):2006-07-21 13:54
Property firm Greentown China Holdings Ltd. said on Friday it would issue a further HK$400 million (US$51.3 million) in new shares to cover an over-allocation of stock in its recent international offering.

The Chinese property group, which raised US$342 million in an initial public offering this month, said in a statement it would issue 48.7 million new shares at the IPO price of HK$8.22 a share.

The luxury builder said about 27.71 percent of the enlarged share capital would be in public hands on completion of the new issue, up from the current 25 percent.

Greentown China's shares have risen 8.9 percent since their debut on July 13 to end at HK$8.95 on Thursday.

(US$1=HK$7.8)

Source:Reuters 
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