CLP Holdings in HK$7.6 billion share offer for investment needs

Hong Kong's largest electricity supplier, CLP, is raising up to HK$7.687 billion through a placement of new shares to fund its investment needs in the city, a term sheet seen by the South China Morning Post shows.

The company, controlled by the Kadoorie family, is planning to sell 120.3 million shares at a price range of between HK$62.90 and HK$63.90 per share, the document showed.

This represents a discount of between 4.91 per cent and 6.4 per cent to the stock's close of HK$67.20 yesterday, after it fell 0.3 per cent.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1104023/clp-holdings-hk76-billion-share-offer-investment