Goldin Properties Holdings (HKG:0283) has agreed to place, through a top-up placing, 236 million shares at HK$2.06 per share, or HK$486.16 million in total. The company intends to use the net proceeds of HK$48.1 million for financing its property development and investment and/or all other property related business.

The placing price per share represents 10.43% discount over HK$2.3, the stock's closing price per share yesterday.

Pan Sutong, the chairman and CEO and an executive director of the company, will have his shareholding in the company reduced from 72.51% to 60.87% upon completion of the top-up placing.