Skip to content
Subscriber Only

Henderson May Use $1.3 Billion From Share Sale on New Sites

Billionaire Lee Shau-kee’s HK$10 billion ($1.3 billion) investment in Henderson Land Development Co. may help finance the developer’s plan to convert farmland and old buildings in Hong Kong to as many as 45,000 homes.

Lee, 83, and his family exercised 172.4 million warrants into the same number of shares at HK$58 each, a 5.9 percent premium to the latest close, as it wouldn’t be easy to buy the bulk of stock in the market, Henderson said in a statement to the Hong Kong stock exchange late yesterday. Lee and his family have also bought 28.2 million shares since March 18, according to the statement.