CITIC Pacific Ltd. (00267.HK) has sold shares worth a combined HK$39.5 billion (US$5.1 billion) to the National Social Security Fund and 14 other strategic investors at HK$13.48 apiece, the Hong Kong Economic Journal reported Thursday, citing a stock exchange filing.
The new shares represent 11.78 percent of the group’s enlarged share capital, with the National Social Security Fund holding 5 percent, the most among the strategic investors.
The share subscription agreements are part of a bigger fundraising plan worth HK$63 billion. The funds will be used as partial payment for assets worth a combined HK$286.59 billion it acquired from parent company CITIC Group Corp.
Chinese financial institutions account for eight of the 15 investors, taking up a combined 9.46 percent of the enlarged capital.
Aside from the National Social Security Fund, the mainland institutions include SAFE Investment Co. Ltd., which is backed by the country’s foreign-exchange watchdog, China Life Insurance Co. Ltd. (02628.HK), Bank of China Ltd.’s (03988.HK) East Global Investments Ltd., Agricultural Bank of China Ltd.’s (01288.HK) Harmony Glory Investment Ltd., ICBC International Finance Ltd., China Construction Bank Corp.’s (00939.HK) Giant Wave Investments Ltd., and Beijing Infrastructure Investment (Hong Kong) Ltd., a subsidiary of the state-owned Beijing Infrastructure Investment Co. Ltd.
Other investors are AIA Co. Ltd. (01299.HK), Qatar Holding LLC, CTBC Life Insurance Co. Ltd., Tokio Marine & Nichido Fire Insurance Co. Ltd., Mizuho Bank Ltd., Dunearn Investments (Mauritius) Pte Ltd., a wholly-owned subsidiary of Temasek Holdings (Private) Ltd., and Fubon Life Insurance Co. Ltd.
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