Debt-ridden property developer Yuzhou to raise $1.5 bln

Reuters

2024/11/01

Nov 1 (Reuters) - Shanghai-based property developer Yuzhou Group said on Friday it will raise around HK$12.01 billion ($1.54 billion) while it is in the middle of restructuring its offshore debts.

The company will issue 5.65 billion existing shares at HK$2.127 apiece.

($1 = 7.7739 Hong Kong dollars)

(Reporting by Sneha Kumar; editing by Alan Barona)

((Sneha.Kumar@thomsonreuters.com))

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