HONG KONG, May 28 (Reuters) - Evergrande Real Estate Group , China’s fourth largest property developer by sales, plans to raise up to $613 million in a Hong Kong share offering for refinancing and working capital, IFR reported on Thursday, citing a term sheet.
The company is offering 747.6 million new shares in an indicative range of HK$6.22 to HK$6.36 each, equivalent to a discount of up to 10 percent to Wednesday’s close of HK$6.91, added IFR, a Thomson Reuters publication. That would put the total deal as high as HK$4.75 billion ($613 million).
CLSA, Credit Suisse, Haitong and Jefferies were hired as joint placing agents of the deal, added IFR. (Reporting by Fiona Lau of IFR; Writing by Clare Jim; Editing by Michael Perry; Editing by)