The
company
placed
572.1
million
new
shares
–
up
from
the
465
million
initially
planned
–
at
HK$5.08
each,
a
discount
of
8.1%
compared
to
the
closing
price
per
share
on
the
day
prior
to
the
placement.
Longyuan
announced
plans
in
May
to
issue
up
to
1.36
billion
new
shares,
which
could
have
raised
almost
$1bn
based
on
share
prices
at
the
time.
However,
it
issued
a
$400m
hybrid
bond
earlier
this
month,
reducing
the
need
for
a
larger
share
sale
in
a
weak
climate
for
equity
investments.
About
half
of
the
new
funds…
