Great Eagle increases the property of CitiBank Mansion and CitiPlaza

Great Eagle Holdings (0041) announced it had entered into two dealing agreements with CitiBank, pursuant to which Great Eagle would acquire the office building from floor 39 to 50 of CitiBank and No.5 shopping store and 15 parking lots of CitiPlaza by the way of shares trading. Deducting the less than HK$673 mln debts repayments, the relevant consideration was estimated to be HK$1.27 bln, HK$300 mln of which would be financed by issuing 16.67 mln new shares at HK$18 each and the balance would be financed in cash. 

The issue price of the consideration shares was HK$18 each, 72.08% discount to the average closing price of HK$10.46 in the latest 10 days and the involved shares accounted for 2.89% of the existing issued shares

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