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- The company plans to use the funds for acquisition opportunities and to develop new businesses, the term sheet showed.
Property management company, Country Garden Services Holdings Co., raised HK$8 billion ($1.03 billion) through the sale of 150 million new shares at HK$53.35 on Thursday, Reuters reported.
The company's shares were sold at a 9.5 percent discount to Wednesday’s closing price of HK$58.95, representing 4.5 percent of enlarged share capital, according to a term sheet seen by Reuters.
The company plans to use the funds for acquisition opportunities and to develop new businesses, the term sheet showed.