Country Garden canceled its share positioning soon after midnight, a report by IFR exposed, mentioning bookrunner JPMorgan.
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Hong Kong-listed shares of Country Garden fell 5.06% on Tuesday, following several reports that the Chinese genuine estate designer had ditched its $300 million main share positioning.
The share positioning was intended at assisting the Chinese home designer payback its financialobligation.
Its home services arm Country Garden Services lost 0.57%, while other Chinese residentialorcommercialproperty stocks were likewise dragged down. The Hang Seng Mainland Property Index, which steps Hong Kong-listed Chinese home counters, was lower by 0.33%.
Logan Group fell 4.21%, while China Vanke shed 0.73%. Sunac fell around 2%.
In another obstacle for China’s embattled residentialorcommercialproperty sector, Country Garden supposedly canceled its share positioning soon after midnight, according to IFR which veryfirst reported the news, mentioning bookrunner JPMorgan.
Primary share positionings include purchasing of brand-new shares through brand-new issuances. According to Reuters, the positioning com