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Guotai Junan International raises HK$1.99B via share sale

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Guotai Junan International raises HK$1.99B via share sale

Guotai Junan International Holdings Ltd. raised approximately HK$1.99 billion through a sale of 700 million shares.

Guotai Junan Holdings Ltd., the majority shareholder of the company, on Jan. 29 completed the sale of 700 million shares of Guotai Junan International to not less than six investors at HK$2.85 per share in a private placement.

In addition, Guotai Junan Holdings on Feb. 6 completed its planned subscription of 700 million new shares of Guotai Junan International, representing about 9.08% of the latter's issued share capital, at the same price.

Guotai Junan Securities (Hong Kong) Ltd. acted as the sole placing agent for the transaction.

Following the completion of the share placement and subscription, Guotai Junan Holdings' stake in Guotai Junan International was reduced to 58.74% from 64.61%.