Yue Yuen aims to raise $300 million to help coverplanned capital expenditures of $370 million for the next two years, accordingto the South China Morning Post(the English-language paper of record in Hong Kong). YY acknowledged it waspreparing the placement and bond sale, but otherwise declined comment, sayingit had submitted a statement to the Stock Exchange of Hong Kong.

The SCMP says YY is placing at least $125 millionworth of shares at a 3-5% discount to Thursday’s closing price of HK$24. Thetotal amount raised from the placement will depend on the funds raised from thebond sale, which ... Log in to view full article.