Beijing Enterprises Water plans $468 mln share sale

Beijing Enterprises Water

25/01/2018 24:30

HONG KONG, Jan 25 (Reuters) - Beijing Enterprises Water 
Group Ltd  0371.HK  said on Thursday it planned to sell HK$3.66 
billion ($468 million) worth of new shares, raising money for 
working capital. 
    The Chinese sewage and reclaimed water treatment services 
group will issue 450 million new shares to third-party investors 
and another 169.49 million new shares to its controlling 
shareholder, Beijing Enterprises Environmental Construction Ltd. 
    The shares will be issued at HK$5.90 apiece, representing a 
5.8 percent discount to the previous close, it said in a filing. 
    The stake of the controlling shareholder, a unit of Beijing 
Enterprises Holdings Ltd  0392.HK , will be reduced to 42.42 
percent after the deal from 43.48 percent. 
    China International Capital Corp, Daiwa Capital Markets, 
Deutsche Bank AG, Haitong International Securities and UBS AG 
are the placing agents. 
    ($1 = 7.8176 Hong Kong dollars) 
 
 (Reporting by Donny Kwok; Editing by Malcolm Foster) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: BEIJING WATER SHARESALE/