Greenland Seeks Up to $4.7 Billion in Private Share Placement

Greenland Holdings Corp., China’s biggest listed developer, is seeking up to $4.7 billion in a private share placement for property investment and debt payment.

The company plans to issue up to 2.08 billion shares at 14.51 yuan a piece or higher, according to a statement to the Shanghai stock exchange Tuesday. The proceeds would be used to repay 9 billion yuan ($1.4 billion) of bank loans and invest in property projects in Wuhan and Hefei areas, the company said.

Shares have been suspended from trading since Nov. 19. They will resume trading Wednesday, the company said.

— With assistance by Judy Chen

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