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Country Garden Services plans $2 bln share sale, bond issue for projects

HONG KONG, May 25 (Reuters) - Country Garden Services Holdings Co Ltd said on Tuesday it plans to raise HK$15.5 billion ($2 billion) from a share sale and a convertible bond issue to fund merger and acquisition projects.

The property management unit of developer Country Garden aims to sell 139.38 million new shares, or 4.35% of the enlarged share capital, to third party investors for HK$10.5 billion.

They will be issued at HK$75.25 apiece, representing a 6% discount to Monday’s close of HK$80.05.

The company, which has a market cap of some $30 billion, also plans to issue HK$5 billion in bonds which would be convertible at HK$97.83 per share.

UBS, China International Capital Corporation and Morgan Stanley are the placing agents and managers. ($1 = 7.7646 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Edwina Gibbs)

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