trending Market Intelligence /marketintelligence/en/news-insights/trending/p_1u2d1oayo6j7ao0noclw2 content esgSubNav
In This List

Ronshine China to sell 6.92% stake to Dingxin for HK$1.10B in proceeds

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Ronshine China to sell 6.92% stake to Dingxin for HK$1.10B in proceeds

Chinese property developer Ronshine China Holdings Ltd. conditionally agreed to issue up to 103.5 million of its existing shares to Dingxin Co. Ltd. at HK$10.62 per share for roughly HK$1.10 billion in gross proceeds.

The shares involved in the transaction represent roughly 6.92% of the existing issued share capital of Ronshine China as of June 6.

The share subscription is conditional upon the listing committee of the Hong Kong stock exchange granting the listing of, and permission to deal in, the shares, according to a filing.

Ronshine China expects the transaction to close June 8 and aims to use the net proceeds, which amount to nearly HK$1.10 billion, for its development and for the group's general working capital.

UBS AG Hong Kong branch is the sole global coordinator, sole book runner and placing agent.