China's Yuzhou Properties drops after share placement to OCT Asia

Overseas Chinese Town (Asia) Holdings

03/09/2018 04:28

** Yuzhou Properties'  1628.HK  shares tumble 7.9 pct to
HK$3.84, their one-week low
    ** Yuzhou sells a Hong Kong unit of Overseas Chinese Town
(Asia)  3366.HK  9.9 pct of enlarged shares at HK$3.96/shr
    ** Placement price represents a 5.04 pct discount to
Friday's HK$4.17 closing price
    ** State-owned developer OCT (Asia) becomes second largest
shareholder
    ** Share placement raises HK$1.8 bln ($229.3 mln)
    ** Company says the share sales is good opportunity to
broaden shareholder base and finance future development
 ($1 = 7.8490 Hong Kong dollars)

 ((Reuters Messaging: clare.jim.thomsonreuters.com@reuters.net))