Country Garden sells new shares to Ping An to raise $813 mln

April 2, 2015 1:22 AM

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HONG KONG, April 2 (Reuters) - Chinese property developer Country Garden Holdings Company said it sold new shares to a subsidiary of Ping An Insurance Group Co for HK$6.3 billion ($812.59 million).

The Guangdong-based company said late on Wednesday that it would issue 2.24 billion new shares - or 9.9 percent of its enlarged shares - at HK$2.816 each, 10 percent lower than its HK$3.13 closing price on Tuesday before it suspended trading.

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