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HKEx to raise HK$7.7 bln via placement

Dec. 3, 2012 (China Knowledge) - Hong Kong Exchanges and Clearing Ltd or HKEx<0388>, the world's leading exchange operator by market value, has announced it will raise HK$7.75 billion or US$1 billion through a share placement.

In a statement, the issuer said it will issue 65.7 million new shares at HK$118 apiece, a 5.4% discount to the firm's closing price of HK$124.8 on Nov 29, 2012.

All the proceeds from the issue will be used to acquire LME Holdings Ltd, said the issuer.

On Jun 15, 2012, HKEx declared to purchase LME Holdings Ltd at a price of £1.39 billion or about US$2.25 billion.

In the first nine months of 2012, HKEx saw its operation revenue decrease 8% YoY to HK$5.46 billion, while its net profit for the period down 16% YoY to HK$3.22 billion, China Knowledge reported earlier.

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