Two property firms in China received regulatory approval on Wednesday to raise money through private placements as authorities made the first such loosening of regulations on the financing of developers since 2010, South China Morning Post reported. Shanghai-listed Join In (600745:SHA) said it had won formal approval to raise about US$274 million (RMB1.7 billion) through a private placement by issuing up to 180 million shares, and Shenzhen-listed Tianjin Tianbao Infrastructure (000965:SHE) was granted approval to raise US$250 million by issuing up to 346 million non-public shares. Both companies’ shares rose by the daily limit of 10%.
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