HK-listed China Shenhua investors to raise 5.6 bln hkd via share placement

Some institutional shareholders of China Shenhua Energy Co Ltd have agreed to sell 155.6 mln shares of the company at 35.46-36.19 hkd per share in a placement deal, according to a term sheet.

Based on the price range, the institutional shareholders could raise up to 5.6 bln hkd.

The placing price range represents a discount of up to 6.0 pct to the stock's closing price of 37.7 hkd today.

The share sale is being arranged by UBS. (1 usd = 7.8 hkd) (XFN-ASIA via COMTEX)