Country Garden jumps most in over 5 months on securing M&A fund, Midea rises

Midea Real Estate Holding

04/03/2022 03:31

** Shares of property developers Country Garden Holdings Co
Ltd  2007.HK  jump 8.4% to HK$6.20, the biggest daily percentage
rise since Sept. 21, extending gain for the second session
    ** Stock the biggest percentage gainer in the benchmark Hang
Seng Index  .HSI , Hang Seng China Enterprises Index  .HSCE  and
Hang Seng sub-index tracking property firms  .HSNP 
    ** Chinese property developers Country Garden  2007.HK  and
Midea Real Estate  3990.HK  secured separate mergers and
acquisition (M&A) financing facilities worth 21 billion yuan
($3.3 billion) in total  urn:newsml:reuters.com:*:nL2N2V7074
    ** Country Garden said it had signed a deal for 15 billion
yuan ($2.37 billion) in M&A facilities with China Merchants,
while Midea said it had agreed a deal with the same lender for 6
billion yuan in M&A funds
    ** Shares of smaller developer Midea Real Estate jump 5.7%,
seeing their best day since Nov. 11 
    ** Hang Seng sub-index tracking property firms  .HSNP  eases
0.8%, Hang Seng Mainland Properties Index  .HSMPI  slips 0.5% 
    ** Hang Seng China Enterprises Index  .HSCE  falls 2.3% and
Hang Seng Index  .HSI  drops 2.5%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))